Why investors must stay rational in final leg of bull market

Late cycle indicators are beginning to accumulate: credit spreads are very tight, implied equity volatility is at extremely low levels, M&A activity has been rising and consumer debt is swelling. In this situation, rather than chasing returns, it makes sense to keep risk in portfolios at moderate levels. Majedie's Brass: Why I am sceptical of 'Trumponomics' impact Predicting the end of a bull market is a fairly futile task, as it is practically impossible to get the timing exactly right. This year is a decade since the start of the subprime mortgage crisis, 20 years since the As...