It's worth remembering that markets were very upbeat in the early summer of 1914.
– Former Treasury Secretary Lawrence Summers
Investing in enterprises headquartered anywhere on the globe is now easy. Scads of money sloshes around the world. Investors crave high returns, seemingly not worried about the linkage between reward and risk.
This Bloomberg dispatch suggests a need for caution.
Update: The deep thinkers quoted by Bloomberg are revving up for theWorld Economic Forum in Davos, Switzerland. Al Kamen in the Washington Post calls it “a compulsory gathering for important and self-important bloviators.”
Summers wonders why the markets are so cheery and his fellow deep thinkers so gloomy. Rich Karlgaard, in his Digital Rules column, suggests it may just be politics.