Mike Wilson

Mike Wilson is chief US equity strategist at Morgan Stanley, where he oversees the firm's US equity market forecasts, sector recommendations, and thematic research. He correctly predicted the 2022 US equity bear market and has been persistently cautious about earnings and valuation risks in the post-2008 era. His work has focused on the "earnings recession" thesis and the implications of Federal Reserve policy normalization for equity multiples. Wilson's bearish but reasoned calls attracted significant institutional attention even when markets moved against his positions. His framework for analyzing operating leverage in corporate earnings — examining how changes in revenue growth translate into amplified swings in operating margins given the high proportion of fixed costs in corporate cost structures — has given equity analysts a more rigorous foundation for forecasting EPS in different macroeconomic scenarios.