Former Morningstar Manager of the Year: “There is now absolutely no accurate pricing discovery in the capital markets and we have entered a period of total manipulation”

The price mechanism was knocked deeply out of whack with the 2008-2009 Crash, and then made worse by the policy response to the Crash.

(From Advisor Perspectives)

We have entered into a far more dangerous environment where normal rules of analytics will likely not apply. When everything is essentially socialized as to risk, a return vs risk evaluation is essentially meaningless since the risk side of the equation has been truncated.