If you are an investor in some of the insanely overvalued social media stocks like Facebook and King Digital Media, the recent IPO of the maker of the mobile game Candy Crush, you might beg to differ as some of these stocks have fallen 30% from their highs. Yes, bond and stock prices are still going up and down but financial cataclysm is off the table. Long gone are the financial crisis worries of 2011 and investors are basking in the warm afterglow of higher portfolio values. As predicted on these very pages, Europe did not disappear in a Euro debt meltdown and currency break up.
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Canso April 2014 Market Observer
