It [bubble] can burst any day. We are very stretched, sentiment figures are very very bullish, everybody is bullish. The reality is they are bullish because they think the economy will accelerate to the upside.
But my view is very different, the global economy is largely emerging economies nowadays, and they are slowing down. There is no growth at the moment in emerging economies, there is no growth in local economies. So I feel that the valuations are high, the corporate profits have been boosted largely by the fall in interest rates.
