Every FED Chairman since Paul Volcker, and to a certain extent before, has been baptized by fire of a large scale market sell-off. Let me give you an example.
- Paul (The Iron Will) Volcker: Took office in August of 1979. Last down leg of a 1966-1982 bear market started in April of 1981. Baptized by fire 1.5 years into his tenure.
- Alan (The Master Printer) Greenspan: Took office in August of 1987. Baptized by fire just two months later, when the crash of 1987 took place.
- Ben (The Savior) Bernanke: Took office in February of 2006. The 2007-2009 bear leg started in October of 2007. Baptized by fire 1.75 years into his tenure.
- Janet (Everything is Peachy) Yellen: Took office in February of 2014. Now 1.5 years into her tenure.
I am sorry to tell you this Ms.Yellen, but if the trend above holds true, you are about to get creamed along with every other bull out there. Just saying!!!
Janet Yellen: Are You Ready For Your Baptism By Fire? Google