Investors see the bubble, but the Fed doesn't.
"With biotechnology stocks trading at more than 500 times earnings, mega-deals resurfacing and bond sales at a record, concern prices are too high is growing amid a rally that has pushed the Standard & Poor’s 500 Index almost 30 percent above its peak in 2007. The view isn’t shared by the Federal Reserve, which said this week that while valuations are stretched in smaller biotechnology and social media companies, asset prices in general are in line with historical levels. "Sounds like what the Fed said about the housing bubble right before it burst.
Microsoft to lay off 18,000, but they supposedly need more STEM workers.
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