Andrew Slimmon
Senior Portfolio Manager, Morgan Stanley Investment Management
Ticker
Side
Mentions
Opened
Entry
P&L
Thesis
Theme
Source
Long
Mar 03
$680.33
+11.0%
"We're having a strengthening of the dollar... on a relative basis, you're seeing more money come back into kind of the very large US stocks." A strong USD acts as a headwind for international stocks and commodities (which are priced in dollars). As the "weak dollar" consensus trade unwinds, capital rotates out of Emerging Markets/Europe and seeks safety and growth in US Large Caps. Long US Large Cap Equities as a beneficiary of capital rotation driven by currency strength. The US Dollar weakens unexpectedly; US earnings disappoint.
"We're having a strengthening of the dollar... on a relative basis, you're seeing more money come back into kind of the very large US stocks." A strong USD acts as a headwind for international stocks and commodities (which are priced in dollars). As the "weak dollar" consensus trade unwinds, capital rotates out of Emerging Markets/Europe and seeks safety and growth in US Large Caps. Long US Large Cap Equities as a beneficiary of capital rotation driven by currency strength. The US Dollar weakens unexpectedly; US earnings disappoint.
Macro
Short
Apr 22
$126.17
-11.8%
Oil prices are unlikely to reach $150; the typical pattern is a retracement to around $80, and one should be bearish on oil when it gets close to triple digits because more supply tends to come online, preventing sustained high prices.
Energy
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