At the same time as Morgan Stanley’s institutional traders were warning that the current tech sell is “different this time”, warning that “you can’t have a >$100bn loss in a well held name and not have collateral damage” and calculating that “the performance of HF longs based on 13F holdings shows the last few weeks have been a ~2 standard deviation loss event”, Morgan Stanley’s chief US equity strategist, Mike Wilson, had some even harsher words: “the selling has just begun and this correction will be biggest since the one we experienced in February.”
