- Asset valuations, in themselves, cannot tell us when bubbles will burst, but they suggest when we are witnessing them and the depth of liquidation coming on the other side.
- Today, equities, corporate and many sovereign bonds (and the funds and ETFs that hold them) are more extremely priced than at any time in at least 70 years.
- Keeping our heads while the masses are losing theirs is necessary if we are to keep our principal, liquidity and investment optionality when the masses are losing theirs.
For further details see:
Bubbles Are Ubiquitous, Bubbles Always Burst