Depending on where you are in the world, you may be living during several bubbles. I think the key is to not have any assets that you aren't willing to gamble

Depending on where you are in the world, you may be living during several bubbles. I think the key is to not have any assets that you aren't willing to gamble in these bubbles. Then there are macro economic forces (in the US at least) such as hyper inflation that are really hard to avoid. I wouldn't call inflation a bubble as it don't focus on an over-valued asset. Anything that seems too good to be true, probably is. It can pay handsomely to put a small wager on these situations, but it is a terrible idea to leverage yourself in a bubble. In 2008 many people bought houses that they could not afford and then the bottom dropped out. It was a terrible situation, but no one was forced into this bubble. One can rent, move to a less expensive area and take on a longer commute, etc. With exponential acceleration as a macro trend, we will probably live during one or more bubbles more often than not... as long as things do not boil over.