‘The bellboys are handing out stock tips in the lifts’

Are markets reaching bubble proportions?

Regular readers of our world of money blog know how I feel. That’s not to say you can’t make money in a bubble. Or that valuations won’t be maintained. But I just can’t get comfortable with the massive hole in the financial system on one hand and the buoyancy of stock valuations on the other. $ 3.4 trillion losses, but stock markets and housing markets where they were a year ago. And this against a backdrop of the same old games of extraordinary bonuses, moral hazard, lack of fiduciary responsibility and, for most businesses and people, very tight liquidity.

Place your bets!

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