T'was the night before Christmas

'Twas the night before Christmas, when all through the house,
The talk was of tapering, turning me into a grouse,
Fed governors debated, all with great care,
Hoping economic rebound soon would be there.

The children were nestled all snug in their beds,
Too young to worry about Bernanke and the Fed,
But I was concerned that easing will end,
A drop in stocks, such action would send.

When out on Wall Street there arose such a clatter,
The Fed tapered, but it hardly did matter,
Stocks rallied hard, prices rose in a flash,
I wondered if traders had gotten into their stash.

No matter what happens, the stocks will still go,
Regardless of sentiment and mutual fund flow,
But Bernanke is now out and Yellen will appear,
Who has yet to cause traders to tremble with fear.

With a stroke of the pen, the bull could end quick,
Leaving traders with wounds for which they will lick,
The Kardashian sisters are known for their fame,
But everyone will soon know Fed Governors' names,

There's Yellen, Tarullo and Sara Bloom Raskin,
Stein, Powell - and Stanley Fischer they're askin',
Will they raise interest rates? Will they wreck it all?
Will they put an end to this bull market ball?

Investors have missed out, so now they just buy,
Without understanding what, when or why,
All they know is that their neighbors' stock flew,
And they need to get in on that action, too.

So they've now piled on, blowing stocks through the roof,
Not considering their timing might be a goof,
But as I watched the TV and turned up the sound,
I heard why the economy's not in the ground.

It's apparent that rates are going nowhere fast,
And perhaps there's a chance this bull market will last,
With more opportunities to take a big gain,
Like a baller in the club who's making it rain.

If rates stay low for another few years,
That should alleviate investors' worst fears,
And once again they'll all praise the bull,
And feel the market's gravitational pull.

They'll continue to buy stocks like Tesla and Google,
At crazy valuations, without being frugal,
And load up the portfolio with every kind of stock,
With performances similar to stars who do rock.

So for now the bull market does seem intact,
That's not an opinion, just a cold hard fact,
So enjoy the move higher and the bulls being right,
Enjoy your returns and to all a good night.