I think the stock pirate is saying the stock prices were driven up
unnaturally by TARP, stimulus and the QEs following 2008. But he can speak for himself.
From my chair it looks like stock earnings during this time really do not justify their high valuations as suggested by the equity indexes.
Btw, Yellin is still saying she anticipates an IR bump this year. anticipates.... hmmm
I think the stock pirate is saying the stock prices were driven up unnaturally by TARP--and I am grateful for his raising the point. Still, while most folks on these threads say the same thing, every time I look at TARP and stock prices--
--what I see is that stocks tanked when TARP came on line and they recoverd as TARP was wound down. I mean, who are we to believe, everyone on the FR or our own lying eyes?