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Only one Wall Street strategist worth reading this weekend.
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After weeks and weeks of warnings, the worst case scenario envisioned by BofA Chief Investment Strategist Michael Hartnett has finally arrived, and since he has a several-month head start on his Wall Street peers who are now scratching their heads how to reverse goalseek their rosy and cheerful estimates from as recently as November without losing all credibility, instead of rehashing everything he has said over and over since the summer of 2021, Hartnett digs right into the elephant in the room, which is just one:
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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