The stock market is in a bubble -- just not the kind we're used to seeing

Reuters / Brendan McDermid Grantham Mayo Van Otterloo cross-asset strategist James Montier argues the stock market is in a bubble, but not the type that's normally seen. Montier says bubbles can form even without the extreme emotions that have historically characterized them. Conventional market wisdom suggests in order for an asset to swell into bubble territory, investors have to be overconfident to the point of euphoria. That very idea has led equity bull market defenders to argue the absence...