[Andrew Sheng] Summer bubbles, autumn blues

We never had it so good.

The S&P 500 and Nikkei 225 just hit record highs.

SpaceX had its spectacular initial public offering, raising an eye-popping $75 billion (the largest IPO in history) with a sharp rise in share price to a mind-blowing valuation of $2.5 trillion.

The possibility of a US-Iran deal to reopen the Strait of Hormuz has caused gasoline prices to drop back to below $4 per gallon, or about $1 per liter.

Global stock markets are creating wealth for portfolio investors that seems un ...