Hold on before you grab the bull by the horns

I realise I can come across as an insufferable bear but even I was taken aback by the latest comment...

I realise I can come across as an insufferable bear but even I was taken aback by the latest comments from American fund manager Jeremy Grantham who can be trusted to gauge the market's tone and direction. Grantham warned his investors the recent market rally may not just be a dead-cat bounce but the start of something potentially much more impressive and, at the same time, profoundly scary. Here is Grantham (courtesy of a note by James Montier at SocGen) on the subject of possible bull markets: "If the stock market is many times more sensitive to financial stimulus in the short term th...