SocGen: Value Is Easier To Find But Prepare For Declines

Value Is Easier To Find But Prepare For Declines

After RBS's dismal warning that investors should sell everything ahead of a market meltdown, and then Albert Edwards' (the outspoken and often negative global asset research analyst for Société Générale) concerning prediction that the US will drag the world back into a financial crisis, Société Générale's Global Quantitative Research has issued yet another bearish research note this week calling for a 50% decline in global equity prices.

[klarman]

Turbulence ahead

Unlike Albert Edwards' and RBS's warning, Société Générale's Global Quantitative Research team hasn't picked out one major catalyst that will drag the markets lower. Instead, the team suggests that concerns about China and the US are just two factors in what has been a long...