Markets have a whiff of simmering frog about them. Investors are growing adept at ignoring the warning signs like the proverbial amphibian in a pot of slowly heated water, not recognising the dangers until too late.
But on a near daily basis, something extraordinary crops up to remind us that the whizz-bang rush into risky bets may be getting out of hand.
The more cautious investors out there have been wringing their hands for nearly 10 months now, and they have been thoroughly beaten up in the process. Global stocks have climbed 74 per cent since last March.
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