Despite more potential downside, the U.S. equity market is not in a bubble at all.
In light of the tumultuous move in global stocks this week, I found it comforting, in that it-could-be-worse sense, to think about some excessively priced assets I've watched up close, as well as from a distance.
As investors have learned through the ages, jumping off a wave too early can sometimes be a very dangerous move. I wish I had jumped off this one sooner. Soon we will have a new landlord, who is paying $75 million and intends to invest over $50 million in a full conversion to biopharma lab space, right in the heart of Boston's Financial District. At that price, our ten-year lease must make them queasy.
, but sometimes a real case strikes an alarm note. An executive of a firm that developed a software system used in training workers explained to me that their private equity parent was encouraging them to make acquisitions for the purpose of growing their revenues in preparation for a resale of the company.
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