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JPMorgan Strategists Say Stock Pessimism Is ‘In Vogue,’ But Wrong

  • Investors should ignore economic slowdown calls: strategist
  • Recommends banks, autos and miners in current environment

Doomsday predictions for an economic slowdown that will drag down equity markets are fashionable, but wrong, according to JPMorgan Chase & Co. strategist Mislav Matejka.

“We believe one should look through the widespread ‘slowdown’ calls that are currently in vogue, and stay bullish on banks, mining, energy, insurance, autos, travel and telecoms,” Matejka and his team wrote in a note on Monday. Over the past six months, and in direct contrast to bearish predictions, “the internals became more bullish again,” they said.