Mundy: The falling domino effect awaiting global markets

High valuations and low earnings

A number of recent manager commentaries in the industry have referred to the Oscar-winning film The Big Short - a film describing the inflation and subsequent bursting of the US housing bubble during the 2000s through the eyes of some of the smart guys who profited from the crash.

It is a good introduction to some of the more exotic products bought and sold in financial markets. However, my poor attention span and need for a fast-moving story was slightly better suited to Eddie the Eagle. Eddie is portrayed as a downhill skier attempting to break into the British downhill team and, for me, one scene that particularly resonated was when the British Olympic Association introduces the whole team and they ski down one at a time before coming to a stop. Eddie is the last skier to come down, joins the rest of the team at the bottom, loses his balance and knocks into ...