COMMENT Three months ago, two analysts issued notes warning of a risk of a sell-off in the stock market. They were proved right. This week, both published notes saying it is now time to buy.
Teun Draaisma, European equity strategist at Morgan Stanley, and Chris Watling, of Longview Economics, hedge their calls with concern about risks in the very short term. Both used models of market sentiment to make their initial selling calls in June, and now draw parallels with the fallout from the Russian crisis of 1998.
