Wilson, who has long said the market was overdue for a correction, said he wants to see volatility decline.
The wild start to the week follows last week's dramatic sell-off, which saw theWilson, who was saying the market waslong before the recent pullback amid the coronavirus breakout, said some growth stocks are still overvalued.
"I think the biggest risk in the market is still in these high-multiple growth stocks that are over-owned and over-loved because they are not pricing in any kind of recession risk," Wilson said. "That's not our call yet, just to be clear we're not saying there's a definite recession, but the earnings are going to have to come down for all of these companies."
Wilson said that his team had added Mastercard to its model portfolio this week and that investors should take a closer look at downtrodden energy and financial stocks.
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