Stock markets – Wall Street especially – now resemble a huge marquee party where the champagne and fun are running out fast but few wish to leave because it’s raining outside and there’s no place else to go. But the time is up, the party is about over and the last man out is an idiot.Besides, the marquee needs to be cleared for the next event, which will look very different to the fizzy tech-stock party that has intoxicated so many investors for so long. It’s going to be a new kind of capital…
