Passive Investing IPOs Market Volatility

Morgan Stanley Chief Economist To Wall Street: Ask Better Questions; Stop Acting Like Sheep

At times Wall Street institutional investors have a romanticized view of themselves. They like to think they are the contrarian, the independent investor with nerves of steel to buy when blood is on the streets and retail runs scared. In reality, the questions they currently ask reveal a herd mentality. In Sunday research note Morgan Stanley Chief Economist Adam Parker says meetings with different investors proceed in similar fashion, revealing a similar mindset. The investor one-on-ones “go on to say the same thing about their view that we have heard in several previous meetings.” If investors want to ask Parker real alternative questions, which he appears to cherish, ValueWalk has a few ideas.

Morgan Stanley Chief Economist getting asked the same questions at different investor meetings

Investing with the thundering herd requires looking deep into the market to find the not so obvious fundamentals driving behavior. Consider a doctor looking at an “obese person” and a “skinny person” and making a determination on starvation without really asking questions or conducting analysis, the report observed, using a loose but provocative correlation. Today’s markets require in-depth understanding that might not be a consensus view.


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