No, not The Fed’s little beige book. This is The Fed’s little red book of assets bubbles.
Speaking of asset bubbles, the RCA CPPI commercial real estate index has over doubled since May 2010 (that is just over 9 years!). And the NAREIT all-equity index has over quadrupled since 2009. Notice the lack of volatility in the RCA CPPI index.
The S&P 500 Index has over tripled since 2009 and the Russell 2000 index has almost quadrupled since 2009.
The math is pretty simple. Real estate equity and stock market indices have doubled to quadrupled since 2009/2010.