?If you are going to be bearish and against this market, you are betting against the three richest people on the earth, Yellen, Draghi, and Kuroda,? said market strategist, Ed Yardeni.
?It is difficult to get a man to understand something when his salary depends upon his not understanding it.? said the Pulitzer Price winning author, Upton Sinclair.
?It is by the goodness of God that in our country we have those three unspeakably precious things: freedom of speech, freedom of conscience, and the prudence never to practice either of them.? said the 19th century American humorist, Mark Twain.
When asked about the urban legend that the vaults at Fort Knox are empty, and that the Fed has no gold, former Federal Reserve Chairman Ben Bernanke responded, ?I?ve been to the basement of the New York Fed. The gold is there. I?ve seen it.?
?He who sacrifices freedom for security deserves neither,? said Benjamin Franklin, the Revolutionary War US ambassador to Paris and signer of the Declaration of Independence.
"Our bottom line is that many market metrics and indicators are based on a cyclical environment which no longer exists. Investors tacitly recognize this.? said Lazlo Birinyi of Birinyi Associates.
?Below zero interest rates in the European Community is a game changer.? said Robert Michelle, head of fixed income at JP Morgan Asset Management.
?There?s a great quote from Warren Buffet where he says ?You don?t know who?s swimming without a swimsuit until the tide goes out.? "The tide is starting to go out for the unicorns. I don?t know if it is 20% out or 80% out, but you are starting to see which unicorns don?t have great business models, lack solid unit economics, or are over promotional on what they are able to achieve.? said Bill Gurley, general partner of venture capital firm Benchmark Capital.
?
?I?m worried that we now have the third bubble in three decades. We had the dotcom bubble in the nineties, the property bubble in the 2000?s, and now we have the government bond bubble. Real interest rates are now massively negative. That?s where the bubble is.? said a Wall Street trader.
?Most of the ETFs today are your dad?s Oldsmobile.? said Lee Kranefuss of Source Advisors, about the outdated irrelevance for most equity indexes.
