Societe Generale global strategy researcher Albert Edwards has been given a “frosty reception” for speaking out on central bank policy before, he notes in a September 7 research piece. But exactly what he warned about — a central bank induced “Ice Age” — is already occurring, he says. This is in part witnessed by an investing mantra that has as its value thesis “there is no alternative” to investing in overvalued stocks. Buying stocks at sky-high price / earnings ratios: “What a mistake this will turn out to be” Stocks are, by all accounts, expensive. After high-end asset prices across the…
Albert Edwards: Central Bank "Ice Age" Theory Playing Out
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.