It would be grossly inappropriate for my to discuss annual earnings on a public forum, but let’s say that I’ve bought several stocks in the last year that have gone up much more than 100%.
Regardless:
* Dollar: up over the past two days despite QE3 (non)”news”
* Inventories of unsold goods: up
* Most US property markets since July: flat to slightly lower
* Consumer confidence: down
* Q4 earnings: ???
* Gas/oil prices: down.
The fundamentals do not look terribly good, QE3 or none. Asset inflation is not the way to a good economy; it should be the RESULT of a good economy. Bubbles must be allowed to deflate. If the Fed wanted to really help the economy as opposed to helping the 1%, they’d start purchasing state and municipal INFRASTRUCTURE bonds instead of MBS. Plenty of old bridges and highways to fix, freight railroads to electrify, renewable and nuclear (“clean”) power stations to build. They could do what Congress has so far epicfailed at…
UPDATE: FB is now at 48.83 after-hours, -0.18 since today’s close. Bubble, bubble, toil, and trouble.
