Two days ago we were shocked when we read a blog post by one of the most powerful investors in the world, the head of the global asset allocation at the world's largest asset manager, Blackrock, who explained that in a time when the Fed is openly buying junk bonds, investors can stop pretending they care about fundamentals and should just buy whatever the Fed is buying: "we will follow the Fed and other DM central banks by purchasing what they're purchasing, and assets that rhyme with those"

And there you have it: with that one sentence, the world's most important asset manager just made millions of financial advisors, Wall Street strategists, and MBA analysts obsolete, because in a centrally planned market only one thing matters: what the central planners are buying or selling. That's it. You can cancel you WSJ subscription; you can stop paying your financial advisor 2 and 20 (or 0 and 1 now that the Fed has made everyone into a genius financial advisor), you can cancel your Bloomberg terminal. All you need to know is what ETFs the Fed is buying.