Albert Edwards has made a name for himself in recent years dishing out some of the most controversial takes on Wall Street. For instance, the strategist at French investment bank Société Générale memorably detailed the rise of “greedflation” during the pandemic—the idea that corporations took advantage of COVID-19 and the Russia-Ukraine war to increase profits—by arguing that it may even threaten the future of capitalism. And he warned earlier this month that the current stock market reminds him of the era that preceded the Oct. 19, 1987, crash—a day known as Black Monday, when the Dow Jones industrial average plummeted 22.6%.
The veteran market watcher is famous for his bearish disposition. Over the past two years, he’s been one of the key voices warning that the Federal Reserve’s rapid interest rate hikes will ultimately spark a U.S. recession. Even after the latest GDP estimate for the third quarter came in red-hot this week, Edwards remained cautious.
