03-27-2014, 12:12 AM
Albert Edwards, Societe Generale's uber-bearish strategist, has once again taken aim at economists bullish on the U.S. economy, highlighting a contraction in corporate profits that could leave the country exposed to external shocks and an "inevitable" recession. Edwards said economists used "dodgy" metrics to gauge profit and pointed to the MSCI Operating Profits Indicator - as the one measure that investors should watch.
Declining US profits signal inevitable recession: SocGen Bear
"Emerging market assets have switched from 'priced for perfection' to value or even deep value," Societe Generale said in a note, advising investors start to add exposure, particularly in emerging Asia.