To Buy or Sell.... Have Investors Become Irrationally Exuberant?
That is the biggest question hanging over global financial markets. Despite tumultuous politics across much of the rich world, share prices are reaching ever loftier heights. With the US stock market now into its 8th year of gains, it has only been this expensive twice in its history since 1881: just before the 1929 crash and at the peak of the dot-com bubble in 2000. If you do want to get out how do you know when, because markets have defied pessimists for years? Projections
