The Fed Is Pumping Liquidity… And Asset Prices Can Only Go One Way

Peter, a great place to start this conversation is we're entering the everything bubble in your eyes. This something where all asset prices continue to go up at a very aggressive rate. Talk a little bit as to what are the benefits of this and then also what are the things that you're worried about or what are the areas that people should be paying attention to where risk-wise? >> Yeah, so the fundamentally what's driving the everything bubble I think is liquidity and a lot of that is coming from the Fed. So ...