>“Is the risk priced into the market appropriate to what the real risk is?” says Winer, the firm’s director of equities. “To me, it isn’t. People have grown mor

>“Is the risk priced into the market appropriate to what the real risk is?” says Winer, the firm’s director of equities. “To me, it isn’t. People have grown more complacent and certainly more speculative, and it’s a little bit frightening.” I think this is it. We're collectively ignoring a lot of risk (remember "No one defaults on their mortgage!") and it's going to bite us eventually.