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Morgan Stanley’s Wilson says take profits on defensive stocks

(Bloomberg) — Investors should lock in gains on US defensive stocks as their recent outperformance has left valuations looking pricey, according to Morgan Stanley strategists. Most Read from Bloomberg The team led by Michael Wilson turned neutral on so-called defensives relative to economy-linked cyclical sectors, saying they are awaiting “more …

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In Praise of Climate Virtue Signaling

These changes are real, and very significant, so it’s no wonder that some of the MPs Westlake interviewed said they’re more interested in reducing emissions through technological progress than behavior change. But emissions from things like diet, aviation, and our homes are proving more stubborn—and these are areas where behavior …

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