Subject:The J.P. Morgan View : Amidst near-term fog, focus on medium-term value.
From: US GIOTo: Undisclosed recipients:;
…How does one position on this? • Each of our equity strategists — including Tom Lee, Mislay Matejka, Adrian Mowat, and Jesper Koll — has signaled correction risk in recent weeks, and advises buying some protection. We cannot disagree. But we would not advise going outright short or underweight on equities and credit spreads as the downside from any correction is very difficult to gauge. In this analyst's mind, there is too much of a risk that when it becomes clear that…