Albert Edwards Takes On Payrolls, P/E Expectation Divergence And The "Barrage" Of M&A Deals Just Around The Corner

Tyler Durden's picture

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Anonymous's picture

Great piece.

Can't seem to download the PDF attachment though.

Oso's picture

love it.  his reports are always a pleasure to read.


the "surplus cash" debunkation is key.

Bam_Man's picture

I am a longstanding fan of Albert's as well.

But first thing in the morning on a freezing January Monday, maybe not so much.

Anonymous's picture

Excellent work!

However none of these reasons will have any short or med term effect on the stock market; No one can beat FED's stock market futures shopping spree(tampering).

Cramericans: Buy Buy Buy!!

BTW My bumper sticker reads: I luv Bubblamerica!!

Anonymous's picture

Zerohedge loves 'Rosie'

BS Inc.'s picture

I'm glad Rosenberg wrote about the meager rise since October in the S&P. From the amount of arrogance among the bulls, you'd think we'd gone parabolic since then. It's not that we go up a lot, it's just that we don't go down. Since the price low on November 2nd, the S&P has closed green on 32 of 46 trading days. That only happens 1% of the time since 1950. Yet, 2/3 of the 100 point rise since then was over in the first 10 trading days.

Anonymous's picture

whatever Albert !!
BB dont care !!

Hephasteus's picture

I like that NFIB pricing power chart. It clearly shows that household saving is the way to kill corporations.

Anonymous's picture

i think this analysis is much more realistic than the pom-pom crap arguing for surging employment, profits, investment, etc etc....

i am ready for recovery but will not buy it until the analysis is sound and the data is systematically consistent....

the establishment press was pounding the table for a recession for years and now that it is here - actually a depression - they turn 180 degrees like the punks that they are....

Anonymous's picture

I was there in '87...and we were only trading a couple hundred million shares a day...that's why they created "circuit breakers"...we just haven't tested them yet!

Grand Supercycle's picture


I use technical analysis and more analysts should study share price trends in my opinion.
Technical analysis can assist us as to the direction of the economy as it is a leading indicator.