We are wary of making the fashionable “this crazy bubble will burst soon” call.

Sure, we recently reduced our exposure to the bubblier parts of the global equity market, such as the US, but we have not moved wholesale to an underweight rating. 

We’ve stopped dancing, we are standing closer to the door, but we haven’t left the party yet.

Robert Buckland chief global equity strategist at Citigroup 27 January 2021

https://englundmacro.blogspot.com/2021/01/equity-rallies-can-run-and-run-before.html

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