{"id":25518,"date":"2017-09-12T15:48:27","date_gmt":"2017-09-12T20:48:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=25518"},"modified":"2017-09-12T15:48:56","modified_gmt":"2017-09-12T20:48:56","slug":"julian-robertson-theres-a-bubble-and-its-the-federal-reserves-fault","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=25518","title":{"rendered":"Julian Robertson: “There’s A Bubble” And “It’s The Federal Reserve’s Fault”"},"content":{"rendered":"

Julian Robertson: “There’s A Bubble” And “It’s The Federal Reserve’s Fault”<\/a><\/h3>\n
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Call it the “bearish billionaire” curse. One month ago, MarketWatch penned “7 billionaires who are worried about a stock-market correction<\/a>” which listed Carl Icahn, David Tepper, Howard Marks, George Soros, Jeff Gundlach, Warren Buffett and Eliot Singer as some of the world’s wealthiest people who are losing sleep over the S&P trading at all time highs.<\/div>\n
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Today we can add another investing billionaire – one of the original hedgers, Tiger Management co-founder Julian Robertson – who spoke to CNBC’s Kelly Evans, and stated in no uncertain words that the market is a bubble and that “it’s the Federal Reserve’s fault, and the Federal Reserves all over the world.”<\/p>\n

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KELLY EVANS: … I just wonder what you think generally of where we are in the equity market today, where we are in the stock market in terms of valuation.<\/p>\n

JULIAN ROBERTSON: Well, we’re very, very high — have very high valuations in most stocks. The market, as a whole, is quite high on a historic basis. And I think that’s due to the fact that interest rates are so low that there’s no real competition for the money other than art and real estate. And so I think that’s why the valuations are so high. <\/strong>I think when rates do start to go up and the bonds become more attractive to investors, it will affect the margins.<\/p>\n

KELLY EVANS: Do you think they’re dangerously high right now?<\/p>\n

JULIAN ROBERTSON: Well, that’s a — you know, it’s pretty — they’re high.<\/strong><\/p>\n

KELLY EVANS: Is it the Federal Reserve’s fault or…<\/p>\n

JULIAN ROBERTSON: Yes. It’s the Federal Reserve’s fault, and the Federal Reserves all over the world. I mean, in Germany, in order to buy a bond, until recently, you actually had to pay interest<\/strong>.<\/p>\n<\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Julian Robertson: “There’s A Bubble” And “It’s The Federal Reserve’s Fault” Call it the “bearish billionaire” curse. One month ago, MarketWatch penned “7 billionaires who are worried about a stock-market correction” which listed Carl Icahn, David Tepper, Howard Marks, George Soros, Jeff Gundlach, Warren Buffett and Eliot Singer as some of the world’s wealthiest people […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1806,303,15966,3650,4318],"class_list":["post-25518","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bubble","tag-fed","tag-julian-robertson","tag-us-federal-reserve","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25518"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25518\/revisions"}],"predecessor-version":[{"id":25519,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/25518\/revisions\/25519"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}