### Comment:
He's been wrong about international equities, got the fed cut totally wrong, has been defensive for a year and a half and MS managed money has been in emerging market shit stocks for 3 years, underperforming almost every benchmark. He's a retard.

### REPLY:
International stocks are great.  You get your extra rando-country recessions, and then you also get every U.S. recession too.

### END.