The main points here are that QE has encouraged the dramatic overvaluation of virtually every class of investments; that these elevated valuations don't represent «wealth» (which is embodied in the future stream of deliverable cash
flows, not in the current price); that extreme valuations promise dismal future outcomes for investors over a 10 - 12 year horizon; and that until a clear improvement in market internals conveys a resumption of speculative risk - seeking by investors, the current combination of extreme valuations and increasing risk - aversion, coming off of an extended top
formation after persistent «overvalued, overbought, overbullish» extremes, represents the singularly most negative return / risk classification we identify.
Through the UCSD Clinical Cardiovascular Cell Therapy program, Dib and collaborating cardiology faculty plan to conduct clinical studies in a number of areas, including the effectiveness of adult stem cell transplant as a treatment for congestive heart failure; as a way to minimize heart damage
after a heart attack; and in the
formation of new blood vessels (angiogenesis) to increase blood
flow to the heart for patients experiencing chest pain.