One of the research community's best-known and most bearish analysts, who has spent 15 years warning that the bursting of the US asset and economic bubble would be followed by a lost decade, has published a mea culpa in which he admitted: "I've been too bullish".

Société Générale's Albert Edwards, who has regularly featured at the top of industry analyst surveys over the past few years, yesterday published a note titled 'A 'mea culpa' from the sell-side bear: I have been wrong - I've been too bullish'.