One of my favourite investment writers is Jeremy Grantham, who is one of the founders and still a driving force behind GMO, a very successful investment manager. In addition to regularly reading his quarterly piece, I’ve met Jeremy and seen him speak. He’s not always right (who is?), but he’s always interesting and illuminating.

I bring this up because his quarterly letter for April is a terrific read. The title pretty much explains his topic – It’s Everywhere, In Everything: The First Truly Global Bubble (Observations following a 6-week round-the-world trip).

Rather than try to recap what he says, I’d just recommend you go to www.gmo.com and print it off. You will have to register on the site, but it’s doesn’t cost anything and you can set it up to receive notices of future Grantham missives if you wish.