S&P Fall to 400 Is ‘Inevitable’: Long-Term Bear
Published: Thursday, 29 Sep 2011 | 10:55 AM ET By: Patrick Allen
Albert Edwards, a global strategist at Societe Generale, has been underweight stocks since 1996 and despite being met, he says, with "utter derision," believes a fall by the S&P to 400 is "almost inevitable."
Edwards said he has been long government bonds for the same amount of time and now feels vindicated with the yield on the 10-year Treasury having fallen from 7 percent to 1.75 percent, "a hair’s breadth" from his longstanding target 1.5 percent target.
http://www.cnbc.com/id/44713888
Its easy to be a bull when markets always seem to be going up. Its hard to make a call against the trend. Its easy to be in denial about the macro-economics when media and government are so pollyannaish. Its easy to take pot shots at a guy like Albert. Its hard to make a call and stand by it against derisive people who tend to be many.
