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Most investors are feeling cheerful. Bullish bonhomie abounds. But beware: consensus thinking among investors tends to be wrong. When sentiment changes, the impact on markets can be nasty. And the higher stocks have climbed, the bigger the potential damage to prices. What might be the catalyst for such a change in trend? Often the biggest threats to markets stem from unexpected events, or from something that had been discounted as a risk factor. There’s one such risk that everyone was worried about a year ago. Since then, it’s dropped right off the radar screen. But it could be about to… continue reading