In addition to preaching against the dangers of capitalism and warning that unless America can fix its growing inequality problems, it faces a “revolution“, Bridgewater’s Ray Dalio appears to have been reading the research reports by Michael Wilson.
As a reminder, one of the recurring themes laid out over the past year by the bearish Morgan Stanley chief equity strategist, is that with corporate – and especially tech – profit margins near all time highs, there is little opportunity to further “cut into the muscle” and boost earnings by further shrinking compensation costs, especially with wage growth now solidly above 3%. It’s also the main reason why Q1 earnings season is expected to see a drop in EPS despite continued
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