What the bubble callers miss is that in the middle of a bubble, only cranks call bubble. The opposite is the case now. Every other armchair investor (and their

What the bubble callers miss is that in the middle of a bubble, only cranks call bubble. The opposite is the case now. Every other armchair investor (and their ivory tower counterparts) is calling bubble now: on Bitcoin; on stocks; on bonds. Here's how to identify a real bubble. The conventional wisdom says go all in on a single asset. If you don't, you will get rekt. The only people who disagree with this position are cranks. That's a bubble. It happened in 1999 with stocks and it happened in 2007 with real estate. No asset is in a bubble at the moment based on this definition because the conventional wisdom is against all of them.