So how long can this go on for? As the markets race ahead, and investors bob along with them through the rapids, the sound of the waterfall ahead gets louder and louder, but no one knows exactly around which bend it will appear.
At the moment investors are driven by a frenetic desire to catch the bull market which many ruefully admit to having missed out on.
Others agonise over when the fall will come so they can jump aboard immediately afterwards, safe in the knowledge that the big drop is behind them.
There are plenty of institutional investors sitting on the sidelines. But there is a weight of money in these markets desperate for returns in a world of negligible interest rates.
Research group Compeer reported that the number of deals placed through retail stockbrokers rose to more than four million in the three months to June, a number surpassed only in spring 2000.
For many that is a sign that a market is reaching bubble proportions, the point at which, in the parlance of 1929, the bellboys are handing out stock tips in the lifts.
No comments:
Post a Comment