"No warning can save people determined to grow suddenly rich."
"Paid promoters have helped push CYNK [CYNK Technology Corp] market cap to $655 million after a 3,650% increase in the share price on Tuesday."CYNK had assets of just $39 (no zeroes omitted) as of March 31, 2014 and a cumulative net loss of $1.5 million. The 'company' has no revenue."CYNK claims that it is 'a development stage company focused on social media.' However, the 'company' does not even have a website and has just one employee [who acts as President, Chief Executive Officer, Chief Financial Officer, Treasurer and Company Secretary]."With no assets, no revenue and no product, CYNK has no value. Author expects that CYNK shares are worthless."- Article on CYNK Technology (which is based in Las Vegas) from Seeking Alpha
"That is how [monetary policy] is meant to work. That's why we did it."
"This will mean, on average, that financial market volatility will be somewhat greater than in the past. I think it will mean, on average, that those greed and fear cycles in financial markets will be somewhat more exaggerated than in the past. That, for me, is the corollary of the risk migration."
"The [monetary] policy response needs to carefully consider the nature and persistence of the forces at work as well as policy's diminished effectiveness and side effects. Finally, looking forward, the issue of how best to calibrate the timing and pace of policy normalisation looms large. Navigating the transition is likely to be complex and bumpy, regardless of communication efforts. And the risk of normalising too late and too gradually should not be underestimated."
"The central thesis among investors at present is that they have no other choice but to hold stocks, given the alternative of zero short-term interest rates and long-term interest rates well below the level of recent decades."Investment decisions driven primarily by the question 'What other choice do I have?' are likely to prove regrettable. What we now have is a market that has been driven to one of the four most extreme points of overvaluation in history. We know how three of them ended."
- Price / earnings: 18.2
- Price / book: 2.76
- Dividend yield: 1.89%
- Average price / earnings: 7
- Average price / book: 0.8
- Average dividend yield: 4.5%.
"I am definitely concerned. When was [the cyclically adjusted P/E ratio or CAPE] higher than it is now? I can tell you: 1929, 2000 and 2007. Very low interest rates help to explain the high CAPE. That doesn't mean that the high CAPE isn't a forecast of bad performance. When I look at interest rates in a forecasting regression with the CAPE, I don't get much additional benefit from looking at interest rates...We don't know what it's going to do. There could be a massive crash, like we saw in 2000 and 2007, the last two times it looked like this. But I don't know."I think, realistically, stocks should be in someone's portfolio. Maybe lighten up...One thing though, I don't know how many people look at plots of the market. If you just look at a plot of one of the major averages in the US, you'll see what look like three peaks – 2000, 2007 and now – it just looks to me like a peak. I'm not saying it is. I would think that there are people thinking it's gone way up since 2009. It's likely to turn down again, just like it did the last two times."