Guy Stephens: Are US markets too high?

This month marks 30 years since the stockmarket crash of 1987 - also known as ‘Black Monday' - and the time is certainly right to reflect on this anniversary and consider it in relation to the current state of affairs. Global stockmarkets have continued to race ahead - and none more so than in the US. One popular indicator is the Dow Jones Industrial Average, often simply abbreviated to ‘the Dow', which a year ago was trading at around 18,000 points. Today, however, it has surpassed the 23,000 mark - an increase of more than 27%. The index itself is made-up of 30 companies, which ever...