QE accomplishes nothing.

QE accomplishes nothing. The markets are wrong regarding its power or efficacy in achieving the goals the Fed thinks are within reach with simple asset swaps of differing maturities.

U.S. stocks may gain 10 percent should the Federal Reserve announce a program of asset purchases known as quantitative easing, and emerging-market shares will keep rising, according to hedge-fund manager Barton Biggs.

“The conventional wisdom is the markets are going to probably sell off,” Biggs, managing partner of New York-based Traxis Partners LLC, said in an interview today with Betty Liu on Bloomberg Television’s “In the Loop.” Investors may in fact get a “surprise” with “another 10 percent rally.”