A Mindblowing Stat Shows What's Really Been Driving Stocks The Last 4 Years
In his latest Bedtime With BTIG note that got sent out last night, Dan Greenhaus discusses the age old question: Is this a Fed driven market? His answer: Kind of. He points do the soothing effects of Bernanke on the hill the last couple days for the quick reversal in panic that we saw earlier this week. But he also points to something a lot more powerful than Bernanke: Corporate profits. Check out this stat: While there is no doubt that Fed support has been a crucial, crucial support mechanism for higher equity values and economic improvement since first being utilized in late 2008,
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