Alarm bells sound, yet the bull parties on

Despite warnings from the likes of fund manager Anthony Bolton and Fed chairman Ben Bernanke, the bull just charges on. Yet the market's exuberance is beginning to look increasingly irrational.

The bull just charges on. This week, America's S&P 500 index regained its record peak of March 2000; and the Dow Jones index set another record. Britain's FTSE 100 and European shares have hit six-and-a-half-year highs. All this despite Anthony Bolton, one of Britain's leading fund managers, and Federal Reserve chief Ben Bernanke, sounding "alarm bells'" within days of each other, says Simon Watkins in the Daily Mail. This exuberance is beginning to look irrational.

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