I think you all have heard about the mini-skirts indicator.
The thinking is that, the length of the skirts or the brightness of the clothings, indicates the amount of risk-taking of that era. The shorter the skirt and the brighter the clothes, the more the risk-taking...
So when I look around, I still see a lot of mini-skirts, bright clothings and big loud logos. So this bull market can go on a few more years ...
Example: Ralph Lauren now has a super big logo instead of the small logo during my days at University.
If you go down to Europe, the logos are now very small and subtle. It's only in the EMs, where you see the nouveau rich flaunting their wealth. Or are those fake goods from the PRC ?