Preparing For The Next Crisis (Even If It Isn’t Coming Soon): Jefferies

Most investors have already lived through two severe asset bubbles, so with stock markets again at all-time highs and valuations looking stretched it’s understandable that they are looking for the next bubble that could be endangering their recent gains. Even if you think the bearishness is unwarranted and that the claims of a forming bubble in biotech, sovereign wealth, credit or any other asset class are unwarranted, recognizing risky behaviors now can forestall problems down the road.

Lets not forget the 2007 financial crisis

“The world today is awash...