Sergeant, its even more fundamental than that. Pricing risk has gone out the window, be it in the currency, bond & equity markets. Equities probably to a lesser extent than the other two. If we learnt anything from the GFC its that risk needs to be priced appropriately, however its the Central Bankers that are driving this flawed economic experiment & its because they themselves are in to deep, with debt up to their eyeballs & the inertia of government to enact sound & disciplined policy as the politicians are in the pockets of big business. If this is not a ponzi scheme then I don't know what is. Bernie Madoff would be proud.
Now you may argue & some on here do, don't fight it. If its that big a machine how can you win? I choose not to fight it, in fact in 09 up until recently I went along with it, but I also know when to withdraw. I've had a great run, but now I see bubbles & froth virtually everywhere I look & I see desperate measures being taken, all in the name of chasing growth & yield. If I miss out on another 10% so be it, not that I expect that to happen. I would rather sit on my gains, have some exposure to gold & sit on the sidelines with the rest waiting for a much better & less risky opportunity.
