"There's a Warren Buffett quote that's something akin to: When the tide goes out, you can see who's been swimming naked.
That's the theme of a note this morning from SocGen analyst Kit Juckes, who says that as rates are rising, and tapering talk picks up, it's beginning to be clear where the unsustainable bubbles have been built up.
No surprise: He says the bubbles were found in emerging markets, which have been crumbling lately..."
at http://www.businessinsider.com/analyst-now-that-the-cheap-money-is-coming-to-an-end-we-can-see-where-the-bubbles-are-2013-6#ixzz2WauBdmvI
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