«I LIKE MONEY ON THE WALL»

Vikram Mansharamani, a lecturer at Yale University, recently drew comparisons between China's influence on the art market and that of Japan in the late 1980s and early 1990s, when buyers there smashed auction records only for the boom to turn to bust."It reflects a national overconfidence that has been a consistent ingredient in financial bubbles," he wrote.
"Prudent investors would take great pride in selling at world record prices. Wanting to buy at world record prices is a spectacular reflection of hubris in action."

-Reuters