22 August 2018 - By Jeremy Warner, Telegraph, London
Train wreck is coming: why markets look like an accident waiting to happen https://www.smh.com.au/business/mar...cident-waiting-to-happen-20180822-p4zyx5.html
....Yet there are at least four other factors, somewhat divorced from the usual ups and downs of the macro-economy, which are also flashing amber, if not outright red - buyback activity, valuation, computer-driven trading, and the related issue of artificial intelligence, or machine learning.....
...The flash crashes of 2010 and 2015 were, I suspect, only harbingers of worse to come. Nobody can tell you when the next big train wreck might be, but that it is coming is not in doubt...