Boom Can Sound an Awful Lot Like Pop
Various markets are hitting various QE-inflated highs and so of course there's more talk about another stock market bubble. Which brings us, naturally, to Zero Hedge:
Naturally, if one is tuned to only filter any bubble mentions, one will naturally have a cognitive bias of interpreting the world only through the eyes of "bubble watchers." The flipside of course is that not everyone is a mindless member of the herd, rushing headlong into whatever precipice awaits lemmings just around the corner, and can still do simple math and recall what fundamentals looked like (as a reminder, forward multiples in 2007 looked very cheap too...before EPS for the S&P in 2008 plunged by over 50% which in retrospect would have made those forward multiples 100% higher).
But simple logic failure aside, what empirical evidence shows is that while there has been indeed a pick up in internet mentions of "stock bubble" according to Google Trends, it is still well below its prior high... hit in May 2007 and October 2007, just before and at the very peak of the last stock bubble.
I'll repeat Mark Steyn's advice about getting out of debt, buying ammo, and staying healthy.
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