• Stocks are unlikely to repeat last year's record-shattering performance in 2021 as a V-shaped recovery is largely priced in, Morgan Stanley says

    5 days ago - By Business Insider

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    While the economy is "very likely" to have a good year in 2021, stock prices may not repeat their record-shattering performance of 2020 as a V-shaped recovery has already been priced into the market, said Morgan Stanley's Mike Wilson. The chief investment officer explained that the stock market is a discounting machine that looks forward, and it already priced in optimism around the economic recovery last year. Against this backdrop, "unprofitable growth stocks with big valuations" may underperform in 2021, while assets that will benefit from accelerating...
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