I participated in a wonderful micro-cap fireworks display from 1968 to 1969, in which I made a small fortune (7 times the then full cost of a year at business school). For bubbles, especially superbubbles where we are now, are often the most exhilarating financial experiences of a lifetime. In a bubble, no one wants to hear the bear case. The checklist for a superbubble running through its phases is now complete and the wild rumpus can begin at any time.
In each case, these shared characteristics have already occurred in this cycle.
WILD RUMPUS 2021 SERIES
Previous equity superbubbles had a series of distinct features that individually are rare and collectively are unique to these events. we are in the fourth superbubble of the last hundred years. All five of these superbubbles corrected all the way back to trend with much greater and longer pain than average. There were also superbubbles in housing in the U.S. But before they did, a handful went on to become superbubbles of 3-sigma or greater: in the U.S. Bubble Extravaganza: Housing, Equities, Bonds, and Commodities Executive SummaryĪll 2-sigma equity bubbles in developed countries have broken back to trend. 21, 2022 1:00 AM ET S&P 500 Index (SP500) ACTV, AFMC, AFSM, AMER, ARKK, AVUV, BAPR, BAUG, BBMC, BBSC, BFOR, BFTR, BJUL, BJUN, BKMC, BKSE, BMAR, BMAY, BOCT, BOSS, BOUT, BUFF, BUL, CALF, CATH, CBSE, CSA, CSB, CSD, CSF, CSML, CSTNL, CWS, CZA, DDIV, DEEP, DES, DEUS, DFAS, DFAT, DGRS, DIA, DIV, DJD, DMRL, DMRM, DMRS, DON, DSPC, DVLU, DWAS, DWMC, EES, EFIV, EPS, EQAL, ESML, ETHO, EWMC, EWSC, EZM, FAB, FAD, FDM, FFTY, FLQM, FLQS, FNDA, FNK, FNX, FNY, FOVL, FRTY, FSMD, FTA, FYC, FYT, FYX, GBGR, GLRY, GSSC, HAIL, HIBL, HIBS, HLGE, HOMZ, HSMV, IJH, IJJ, IJK, IJR, IJS, IJT, IMCB, IMCG, IMCV, IPO, ISCB, ISCG, ISCV, ISMD, IUSS, IVDG, IVE, IVOG, IVOO, IVOV, IVV, IVW, IWC, IWM, IWN, IWO, IWP, IWR, IWS, IYY, JDIV, JHMM, JHSC, JPME, JPSE, JSMD, JSML, KAPR, KJAN, KJUL, KNG, KOMP, KSCD, LSAT, MDY, MDYG, MDYV, MGMT, MID, MIDE, MIDF, NAPR, NIFE, NJAN, NOBL, NUMG, NUMV, NUSC, NVQ, OMFS, ONEO, ONEQ, ONEV, ONEY, OSCV, OUSM, OVS, PAMC, PAPR, PAUG, PBP, PBSM, PEXL, PEY, PJAN, PJUN, PLTL, PQLC, PQSG, PQSV, PRFZ, PSC, PTMC, PUTW, PWC, PY, QDIV, QMOM, QQC, QQD, QQEW, QQQ, QQQA, QQQE, QQQJ, QQQM, QQQN, QQXT, QTEC, QVAL, QVML, QVMM, QVMS, QYLD, QYLG, REGL, RFG, RFV, RNMC, RNSC, ROSC, RPG, RPV 68 Comments 61 Likes
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