UBS Wants To Predict Stock Market Correction Date But Can't

On a day when none other than the Financial Times runs a headline that highlights central bank “distortion” in Japanese stock markets, a related event is noted. Just before Bill Gross took the central banks to the woodshed, calling Janet Yellen a master of market manipulation and pointed to ugly results, UBS Global Quantitative Analyst Paul Winter wrote a research report titled “When is the stock market likely to correct?”

This is almost a click-bait type headline, because for a banker to infer discussion of a particular market crash timeframe is a hot topic being handicapped among analysts. How do the dots connect, particularly as Winter discusses "asset bubbles" but does not use the words “central bank” in...