楔子:    Thanks to QE, bubble of 2000 like 'day at beach'

Even as global markets continue to be held hostage over the prospect of the unwinding of the U.S. Federal Reserve's massive monetary stimulus, Hans Olsen, chief investment officer of Americas at Barclays, argues that the tapering has to happen, and the sooner, the better.

"When you think about how much you pay for a dollar's worth of sovereign debt income in the United States or investment grade debt, if you create a PE multiple out of it, that would make the stock market bubble of 2000 look like a day at the beach. It's really quite remarkable," Olsen told CNBC Asia's "Squawk Box" on Wednesday, referring to the dotcom bubble that burst in 2000.

"Let the market start to price things based on fundamentals again rather than money printing. The sooner we get back to a market pricing, the more sustainable it becomes," he added. While Olsen is overweight on U.S. equities, (What a hypocrite ? ~ 瞎摸象: 觀其行, Not 聽其言 !!!)  he says the run up in stock prices does not reflect fundamentals either.

"[U.S. stocks] are up close to 17 percent on a 2.5 percent earnings rise - it's hard to make the case that that just can be done on fundamentals alone. It's really money in motion, [if] you push money out of the fixed income complex, where does it go? It goes to the equity market in search of a better yield."

瞎摸象: The key to the situation is "Current" !

『當下』if you understand Chinese ?

Current demand and supply of Money, credit, inflation, deflation, ..... etc.

Ben Bernanke is a very smart guy and well educated about 1930's great depression.

Inflated stock market creats happiness for average folks 升斗小民 out of thin air.   blog.udn.com/mbr8879576/4122266 

The $ created by printing paper money satisfies current needs of the people;  while the debts may never has to be re-payed as long as current inflation within acceptable limits ? !

Why not enjoy it as long as it last ? !



懇請不吝賜教？

Hans Olsen, chief investment officer of Americas at Barclays may be shorting the market in his personal account, while long the market with the funds of other's money that under his management ? ! That can explain the difference between his deed and his words ? !