Markets are in a fluster over US banks, but that’s not the real problem. There is a looming crisis about to roil markets stemming from inflated valuations in the Private Asset sector. This is going to get really messy. Hard Hats on!
The extraordinary number of new unicorn companies isn’t necessarily a sign of booming corporate prospects and innovation. It’s as likely due to too much cheap money chasing the market, deliberate hype and deluding the masses as to their value.