As long as we are seriously having this debate, we are not in the middle of a bubble. It might be an overvaluation, fine, but that's not a bubble. A bubble oc

As long as we are seriously having this debate, we are not in the middle of a bubble. It might be an overvaluation, fine, but that's not a bubble. A bubble occurs when the overvaluation crosses an unsustainable threshold. It's when the values are rising faster than people can properly evaluate the risk. We are definitely getting closer to a bubble. The euphoria associated with a Facebook IPO might get us there.