Stock market investing strategy, contrarian ideas for election: MS - Business Insider

Morgan Stanley Investment ManagementCyril Moulle-Berteaux, head of global multi-asset team, and Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management, shared their contrarian views about the US elections, the stock market, and a vaccine in a recent panel discussion.

In a fall market outlook panel discussion, the two senior investors at the $665 billion firm shared their alternative outlooks on the elections, the stock market, and the arrival of a coronavirus vaccine.On the US presidential elections, many investment strategists have warned about the tax implications of a blue sweep after the Biden administration's proposal to raise corporate, capital gains, and estate taxes.

"So we've tried to look forward to what's likely to happen in 2021 rather than focusing on the immediate impact of the election," he said. "I think most people assume that the world is going to radically change and that everything is going to be different, about the world after the virus, " he said. "And we have a sense that is probably because people have a tendency to extrapolate current conditions too far out into the future."

"The most amazing thing is that in China today, as the latest data we got in August, hotel occupancies are back to where they were at the end of last year: back to normal," he added. "People are traveling, people are going to hotels because they have confidence that the virus has been brought under control. So it's all a question of when we get there."

"The cheapest stocks are abnormally cheap and the expensive stocks are abnormally expensive because people are paying up for safety, they're paying up for staying away from the virus," he said. "They want things that are sure, but that's a reflection of the uncertainty today and I'm not sure where we're going to be a year from now."In some cases, the bet on a vaccine has also kept some investors out of the stock market, according to Slimmon.

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