Bubble bursting

What a breath of fresh air. Most chief executives are more than ready to tell the market that their companies are not correctly valued – in nearly all cases to moan about undervaluation. It is rare indeed for any corporate leader to stand up and tell investors that they believe their company is too highly valued. Indeed, Sony's president, Nobuyuki Idei, should be applauded for attempting to bring a touch of reality back to his company's valuation. He welcomed in the new year by telling