An extreme sugar high and a delayed fight means you get an extra, high-energy podcast from me this week.
Grandma Yellen, who probably couldn’t even define social media, really got me going on Tuesday with her silly statements about social media and biotech companies having “substantially stretched” valuations.
Specifically, in her latest Monetary Policy Report she wrote this:
Valuation metrics in some sectors do appear substantially stretched—particularly those for smaller firms in the social media and biotechnology industries, despite a notable downturn in equity prices for such firms early in the year.
First, I hate that she uses the term “social media.” Could she sound anymore 2007? Second, she’s in charge of the Federal Reserve so she shouldn’t be commenting on the stock market. The market doesn’t care what she thinks. Don’t get me started on that. Oh wait, too late.
I also felt compelled to weigh in on $YHOO (aka Alibaba light), $MSFT’s job cuts, and GoPro’s ($GPRO) wild ride on the public market. Plus, I pay homage to my wise friend Eddy Elfenbein and his astute observation on the Wilshire 5000.
The episode is, as to be expected, chock-full of my personal wisdom and irreverent humor, mostly at the expense YaBABA.