...“With every bear market rally, the pressure mounts on trenchant bears such as I am to turn bullish,” writes Albert Edwards, strategist at Societe Generale. “Like all bear market rallies, the same old clap-trap is wheeled out about the market pre-empting recovery 6-9 months ahead and valuations being too cheap to ignore. It would be wrong to say I do not agonize that I might not be missing a turn.I'm with ya Brother Albert*, but inversely. I don't want to get caught long in the next down-leg.
I’m riddled with self-doubt.”
*We are fans. Our last post on Mr. Edwards "People I Listen To: "Albert Edwards: Back in the bear camp"' had a list of some of his calls:
...Some earlier posts featuring Mr. Edwards:
May 8, 2008
This Week’s Advice: Canned Food, Guns and a Ham Radio
June 26, 2008
Société Générale: “We see a y-shaped global recession. We are going down before looping backwards”
September 5, 2oo8
Société Générale: Prepare for the Great Unwind, part Deux
Today's story at Investment Postcards from Cape Town:...