Kudos to Albert Edwards for ignoring Career Risk and making a fairly outrageous call.
I question whether this sort of analysis is brave or stubborn or brave (or both) — but more importantly what clients are supposed to do with it.
The rest of Albert’s call: The S&P500 is going to fall 75% to 450, the Sub-1% US 10 year, and Gold > $10,000.
US bond yields are still in a pronounced technical downtrend. My good friend and famous chartist Nick Glydon once said that the most important tool in investing was a ruler. My own view is that US 10y will break below 1% as global recession beckons, but even if I am wrong, a move back up to 3¼% will not break the bull market downtrend of yields (see chart below).
We still forecast 450 S&P, sub-1% US 10y yields, and gold above $10,000, April 25, 2013
Société Générale, Global Strategy Weekly, April 25, 2013
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.