It's been a mere seven weeks since the CNBC'ers announced to the world that every widow, orphan, and pet-monkey should buy the market with both hands and feet as Bernanke just opened the gates. The exact phrase on the evening of QEternity was:
"Buy everything that's not nailed down... as bearish as I want to be, you cannot fight the Fed. You buy everything. Buy copper, which i did today, FCX which i mentioned last night. Anything else? Emerging markets! everything! Just buy it. Buy it all. You never have to short again. Buy it. I had a guy call me today trying to sell me research on the short side, and I said I'm sorry, I think you're going to go out of business. You shouldn't short anymore."
From QE3...
and from Monday: "Market Going Up No Matter Who Wins"... "as long as Wednesday mornig, we have a winner, market is going up... it's just uncertainty!" oh dear...
Things haven't quite gone as planned...
US Equity performance post-QE (and the post-election plunge at right)...
