There is a large cottage industry of people who habitually called for a crash in financial markets. Some of these perma bears likely do so on the basis that such wild market calls are going marketing ploys, and others are of a permanently negative disposition.

Perma bears

Others may simply look at broad fundamentals – grand thematic levels indicators such as the ratio of stock market capitalization to GDP (a preferred Warren Buffet indicator) or the ratio of world debt to GDP, or an array of valuation measures for corporate securities (for example valuations for indebted companies have never been so high in recent decades and bond…

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