Wall Street’s most cautious voice says defensive stocks are now too rich. What alternatives are left? Steve Goldstein — MarketWatch.com – Top Stories

Morgan Stanley’s Mike Wilson has been one of the most cautious voices on Wall Street, but even caution can become too expensive. He says the firm is now neutral on defensives vs. cyclical stocks because of valuation.Morgan Stanley’s Mike Wilson has been one of the most cautious voices on Wall Street, but even caution can become too expensive. He says the firm is now neutral on defensives vs. cyclical stocks because of valuation. …Read More