The Week Ahead: Bubble Top or Buying Opportunity?

November 11, 2013   |   November 2013 Bond Updates
The long awaited Twitter IPO did better than expected, as it closed Thursday 70.8% above the initial offering price. The S&P futures had turned lower by the opening, and closed very weak. It appeared that someone was paying attention to the financial networks and their segments on whether it was a “stock market bubble.” This discussion may have been in reaction to comments on October 29, by BlackRock’s Chief Executive Officer Laurence D. Fink, who said “Fed policy is contributing to bubble-like markets, such as the surge in stock prices.” BlackRock manages a reported $4.1 trillion in assets, which makes it the world’s largest money manager. Two other long-term bulls, Edward Yardeni and Laszlo Birinyi, according to the New York Times, are concerned that the current complacency would lead to a “melt-up” in stock prices. They both think a correction of 10%, or so, would be healthy, as it should set the stage for even higher prices. Edward Yardeni has an S&P target of 2014 for next year. So should you be buying or selling?

View more at: http://www.forbes.com/sites/tomaspray/2013/11/08/the-week-ahead-bubble-top-or-buying-opportunity/
 
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