Morgan Stanley in a note on Thursday advised switching from mid caps to large caps. The brokerage said earnings are on a recovery path, but the broad market may be disappointed in the near term given what is priced in.
What is worrying especially about mid caps is that the market cap to GDP (Gross Domestic Product) growth ratios suggests that the broad market may already be anticipating a recovery in macro growth.
“The gap between broad market performance and share of p ..
