Recent Australian Financial Review (AFR) article

Spike in M&A another sign of ‘frothy’ markets


Today’s headlines  cite rising global interest rates, looming trade wars, an impending property market implosion, tighter government controls, rising energy prices and lofty personal, corporate and government debt levels as reasons for an imminent correction. History shows that the behaviour of the market and businesses within it may give clues as to whether investors need to be extra vigilant.

There is, however, another signal that was present in other recent corrections that is prominent now and should make investors cautious. Increased merger and acquisition activity could be a sign that things are “frothy”.

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