Bearish Bill Fleckenstein Slams Time Magazine

Bill Fleckenstein, who is known for his bearish views on the stock market, slammed the Time magazine for naming Ben Bernanke as its Person of the Year. He said, “Since 1999, Time magazine has ignorantly lauded the blunders of Fed chiefs and their clueless cohorts”.

He noted that Alan Greenspan had appeared on the cover of the February 1999 edition as a member of “The Committee to Save the World”. Bill believes that the actions of Fed chiefs fomented a stock mania in the last decade, which resulted in a total return, including dividends of over -10%, the worst in the past 100 years.