Sunday, September 11, 2016

The Next Recession May Bring Devastation
To TINA-Loving Investors
"Most investors are currently neglecting the longer-term context of this secular bear market. Relying on Tina (there is no alternative) will prove disastrous. The last three years have seen equity yields re-couple with bond yields and it has beguiled investors that ?normality? has returned (see chart). If I am right (and I am on occasion), this is merely a brief interruption in the secular de-rating of equities and the next (imminent?) recession will bring devastation to Tina-loving investors."
- SocGen's Albert Edwards
LINK HERE to the commentary

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