Hedge fund legend Julian Robertson thinks so. His challenge, "I ask anyone to give me an example of an economy beefed up by large amounts of quantitative easing that did not inflate tremendously when or if the economy improved." The Fed's job becomes even more difficult moving forward. Excess liquidity has to be removed from the market sooner than later to avoid this scenario. Diversification becomes even more important during this time of heightened uncertainty.

http://seekingalpha.com/article/141286-julian-robertson-bets-the-farm-on...