Well, At Least He Admits It
As quoted at CNBC, it’s all artificial:
… many market participants believe that accomodative central bank actions will continue to provide strong support to stocks while crushing bond yields.
“Any metric you followed 20 years ago doesn’t matter, because you’re dealing with massive central bank manipulation and accommodation in an attempt to keep everything steady,” said Michael Block, chief strategist at Rhino Trading Partners. “That’s just the world we’re in.”
Block continues to be bullish on stocks due to the perceived “central bank put” …
So, since fundamentals don’t matter, investing in today’s stock market is literally a crapshoot that is totally dependent on Federal Reserve decisions and actions.
Thanks for openly acknowledging what everybody in the markets knows, but is apparently afraid to say.
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