If majority of market participants were value investors you simply would not have bubbles to the degree that we have seen historically I'd like to see that qua

If majority of market participants were value investors you simply would not have bubbles to the degree that we have seen historically I'd like to see that quantified. If 60% of investors were value investors and 40% were speculators, would we still get bubbles? I'm thinking yes. In reality, most people are in the middle. Looking for value, but still mortal, fallible and susceptible to being persuaded that the flavour of the month really is the next big thing.