Morgan Stanley chief investment officer Mike Wilson was once the only strategist on Wall Street bearish enough to predict the S&P 500 would fall to 3,900 by the end of the year. Now as the S&P 500 lingers around 3,950 and Wilson's predictions become a reality, the veteran investor is predicting things will fall by a lot more.
Wilson, who also serves as Morgan Stanley’s chief U.S. equity strategist, is warning investors that U.S. companies will unleash a trove of downward earning revisions in the first quarter of next year which will send stocks down another 24% in early 2023.
