Stocks could crash this summer 2013

What was the trigger of the ‘87 crash when markets fell 21 per cent in one day? What was the trigger of the Nasdaq crash in 2000? What was the trigger of Japanese crash of 1989? What was trigger of 2007 crash that brought global stocks down 50 per cent?

We don’t know these things ahead of time, but something will always move markets up and something will always move them down. I would guess at the present time, given markets from the 2009 lows have in many cases increased by as much as 100 per cent, that they are no longer very cheap. .... Something could come along, geopolitically or otherwise.

I would be very careful being overweight equities. I still have 25 per cent in equities and 25 per cent in corporate bonds.