The most notable quote from this interview with Jeremy Grantham at Reuters is this one:
Bubbles are unbelievably easy to see; it’s knowing when the bust will come that is trickier.
There aren’t any elevator operators these days so that strategy for deciding when to get out is shot. His bottom line is this:
But this bubble is the real thing, and everyone can see it. It’s as obvious as the nose on your face.
If he’s right it may not be a particularly merry Christmas.