“ Markets go too far: ingenious people take bigger and bigger risks, with more and more clever strategies, some of them sound, some of them, it eventually emerges, spectacularly not. Just because this is the worst bust in decades doesn’t mean it will be the last. Somewhere out there, some bright spark is toying with an idea for a new kind of investment, a new trading strategy, which will in a few years’ time be the cause of the next crash. By then most of us will have all got poorer for a bit, then, if we’re lucky, we’ll all have got richer again. This is how capitalism works. It is the way we live now.
