........ If gold is overpriced, real estate looks like a bubble, inflation-adjusted interest rates on debt are close to zero, and stocks look fully priced, there are no obvious options. Watch out then for the game-changers? On the negative side, these could be a euro collapse or an oil price surge, either of which would upset today’s calculations. On the positive side, lower interest rates are a near-certainty — or the RBI governor’s name isn’t Subbarao. Does that swing the argument in favour of stocks? Happy investing !
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