Mr Edwards actually turned bullish for a while* but then reverted to his ursine nature. Here's the latest via FT Alphaville:
The latest missive from the dynamic SocGen strategy duo, Albert Edwards and Dylan Grice, landed in the FT Alphaville inbox on Tuesday, and it’s a stunner.
Some of the top lines from the presentation — titled: “The investment opportunity of a generation or the start of another lost decade?” — include (emphasis theirs):
We have just had the worst decade’s performance for equity investors on record. Relative to government bonds, equities have been an even bigger disaster. Surely after such a terrible decade for equity investors things can only get better?
On a ten year view, equities may indeed prove to be a good investment. On a 1-2 year view, however, we still see much pain to come. After what we have been though so far, where the bulls’ optimism has been crushed in 2001/2 and in 2007/8 surely there must be a heavy weight of self-doubt yoked onto the shoulders of the bulls - but apparently not!>>>MORE
Jun. 2009Here's our complete list of links on Mr. Edwards and his calls, some of which were fortune makers.
Société Générale's Albert Edwards, über Bull
People I Listen To: "Albert Edwards: Back in the bear camp"
Oct. 24, 2008
Albert Edwards: Turning More Bullish