Melissa dont look now but the fed is getting into the stock analysis business. Chair janet yellen calling out some specific sectors for valuations that seem a little stretched. In a filing provided to congress she said, quote, 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 earlier in the year. Social media stocks taking the brunt of yellens comments. A lot of big names in the red as a result of that. Look at facebook, linkedin, groupon. Here to discuss, charlie gasparino, our very own, president of schaefer Asset Management dan schaefer is with us, and barrons Senior Editor jack hough. What do you think of the janet yellen getting into the stock analysis business . Pretty astute. Maybe if i could get a return on cash in my bank account or anywhere, i would, you know, not be willing to take as much risk melissa her fault.
This Sunday is the day of Sant Jordi, the patron saint of Catalonia in Spain. On this day, people celebrate by exchanging books and roses. Sunday is also World Book Day as declared by Unesco in 1995.