In March I wrote suggesting that the FTSE was seriously overvalued at over 6,000.
Inevitably the cynics said I was wrong.
The market went to 6,800.
And now? Look at this:
QE is unwinding.
China is unravelling.
Carbon is massively overvalued on FTSE balance sheets.
Austerity is guaranteeing recession for years to come.
Of course I could be wrong about 6,000 being too high. But I don't think so.