From Yahoo:

A year since the global credit meltdown, investors have waded back into corporate debt and junk bonds. “This rally could go on a little longer so you don’t want to get too nervous,” says Zuckerman, summarizing his sources. Beyond the credit markets, what’s notable and worrisome is the growing herd mentality on Wall Street, Zuckerman says. Whether or not you believe the rally since March, you’re almost forced to join the trade (out of fear of missing it), subsequently adding to the run up and creating a domino effect. Some Wall Street watchers argue once fund managers lock in returns this year, trouble bubbling underneath will surface in 2010. “There’s a lot of that. More so in the last few years than I’ve ever noticed before,” Zuckerman says. “That’s really troublesome. I believe we’re in an age of bubbles.”


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