It’s that time of the bull market again, when everyone decides things beyond the realm of rationality have taken over in equities. Demand is brisk for an account of all the ways investors have lost their minds.
Concern is normal whenever the market is buoyant. When it’s 11 years into a massive rally and share values soar by $1 trillion in two weeks, skeptics come out of the woodwork. Records keep falling -- the S&P 500 is setting one every 2 1/2 days -- while valuations fatten. It’s enough to make the staunchest bull wonder about a reckoning.