I'd say the bubble actually already popped in some places and is popping in other places. The major indices are largely holding up because of high-quality mega

I'd say the bubble actually already popped in some places and is popping in other places. The major indices are largely holding up because of high-quality mega cap stocks with huge cash flows that are immune to inflation (or rather, they have pricing power to track inflation). For example, XBI, the biotech sector ETF is down more than 50% since its Feb 2021 peak. MJ, the marijuana sector ETF is down 70% since Feb 2021.