Chris Dillow

Neither judgment nor futurology can protect us from the huge losses that happen when bubbles deflate. Instead, we need an exit strategy.

Recent months have reminded us that gold doesn't protect us from inflation scares. Better protection might be humble cash.

Safer stocks seem to outperform risky ones – which means we need to rethink what risk is.

Either house prices are just like bonds or they are overpriced

We are now seeing the costs of companies' decades-long attempts to cut inventories.

Stock picking is like a race – in which sometimes we are at a disadvantage.

The ratio of the world's money stock to share prices suggests stock markets are in a bubble.