Very interesting article, and has some very poignant observations. That said, it's not that hard to say we are in a bubble. Frankly, almost any time the market

Very interesting article, and has some very poignant observations. That said, it's not that hard to say we are in a bubble. Frankly, almost any time the market isn't at the bottom, it's in a bubble. The real questions are, when will it pop, and how do you invest accordingly. These are super-hard, and a (cursory) read of the article doesn't really address that. The general, boring observation, is that unless you can do much, much better, you should just be long the market, throughout all the bubbles and busts. You won't get the 50%-in-a-month payout, but you can get your consistent 10% a year or whatnot. So I'm not just nay-saying, I thought S&P is about to crash ever since it crossed 2,000 after the crisis. If I followed my (weak) gut feeling, I would have lost 50% on that trade. Thank goodness I didn't. Even when it crashes, eventually, probably (???) not as low as 2,000.