Morgan Stanley says these 10 stocks are the firm's top selections right now in a group of picks that's doubled the S&P 500 over the last 3 years
Morgan Stanley Chief Investment Officer Michael Wilson says investors' enthusiasm for stocks might be fading.
"49% of S&P 500 members have experienced a drawdown greater than 10% since May 1, while the index has not corrected more than 4%," Morgan Stanley Chief US Equities Strategist and Chief Investment Officer Michael Wilson wrote in a recent note to clients."The market is really dependent on the performance of a small number of large stocks."
"We will continue to focus on relative value within the market which means avoiding those areas most vulnerable to our core thesis of multiple compression during the mid-cycle transition while taking advantage of areas where we think valuations and/or earnings remain too low," he wrote.healthcare companies
There's also his firm's Fresh Money Buy list, a group of 10"Overweight"-rated stocks that are considered top recommendations. The regularly-updated portfolio was created in March 2018, and over that time it's delivered an absolute annualized return of 27.6%, nearly double the 14.6% of the S&P 500 over that span.
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