Can I get a cup of partially hydrogenated zero interest rate policy with that?
Today Janet Yellen called the son she's spent 5 years feeding Big Macs and Egg McMuffin's a fat over stretched slob. Thanks Mom! "I may be fat, manipulated, and unloved, but you will always be ugly" screamed the portly youngster, who wiped away his Crocodile tears while stuffing a Chocolate Pomo in his mouth.
Apparently Janet Yellen and the FED are now in the business of giving out free stock advice. Judging from her attire today it is safe to assume she is short all clothing retailers.
Ben Bernancke wanted to force everyone into risky assets, it worked out great. Risky assets have been bought hand over fist since the lows in 2009. Now Janet Yellen is commenting on those risky assets getting over stretched.
Christmas time at the Yellens must be a bunch of fun. She hands out a basket of presents, each with their own CUSIP, has everyone unwrap them, then says "Don't have too much fun with them, you've got to bring them back in a couple years."
Some stocks are getting over stretched, but the main reason is the easy money policy of the FED and central banks around the globe. If you feed the market easy money for five years, its sure to get fat. The problem comes when its time to slim down. The good news is you can fix fat, it's a lot tougher to fix ugly.