摩根士丹利：现在是美股获利了结的良机，当前应考虑减持三类特定板块

Group 1 - Morgan Stanley's Wealth Management Director Lisa Shalett believes it is a good time to take profits in the U.S. stock market [1] - The analysis team recommends reducing exposure to three specific sectors: small-cap stocks, unprofitable tech companies, and popular meme stocks [1] - Shalett notes that while small-cap stocks have shown strong momentum, investors should follow the lead of several hedge funds and exit immediately [1] Group 2 - Shalett expresses concerns that the market's upward momentum may not be sustainable, predicting a significantly tougher market environment next year, particularly for small-cap companies [1] - She highlights that small-cap stocks are likely to underperform compared to private markets in terms of profitability and public market performance [1] - Another concern raised is that small-cap companies may struggle to compete with larger firms in terms of technological investments, particularly in generative artificial intelligence [1] Group 3 - Despite recent stock price increases driven by expectations of a Federal Reserve rate cut in September, Shalett believes this is insufficient to sustain small-cap stocks [1] - She argues that small-cap stocks require a rate cut of more than 100 basis points, which may not be achievable with adequate policy support [1]