Serious Quote of the Day: Morgan Stanley Is Seeing What We're Seeing

As you've noticed, we've remained very guarded, in words and in actions, during the latest leg of this longest-ever bull market.

While I hinted yesterday that we'll continue to closely monitor labor conditions in the industrial space, looks like we're not alone in our concerns even in our own space.

Yet another serious red flag:   

"Leading investment bank and financial services firm Morgan Stanley will fire 1,500 employees despite boasting in October its third quarter revenue was its best in a decade. Morgan Stanley's stock is up 25% this year, which is its best performance since 2016.

Morgan Stanley said it's being forced to make this move over concerns about global economic uncertainty."

Yes, they're seeing what we're seeing!