Lake Winnipesaukee

(1) Fewer bears at Bahre’s annual retreat. (2) When will the Fed start hiking rates? (3) Will termination of QE trigger a stock selloff? (4) Bubbles everywhere? (5) 2015 by 2015? (6) What’s next: a melt-up? (7) Various valuation ratios all show stocks aren’t cheap. (8) Unemployment rate at 5.5% by January. (9) Low wage inflation should moderate Fed’s rate hikes once they start. (10) YRI Earned Income Proxy at record high again. (11) Fewer amber lights on Yellen’s dashboard.