Is This a Bubble?

This past week I wrote about a possible melt up in the Nasdaq 100. This chart is a good summary of that post: The logical follow-up question (which many people asked) is this: Is this a bubble? The Roaring 20s were a bubble. The 1950s weren’t a bubble. Japan was a bubble. The dot-com boom was a bubble. This can be a difficult question to answer because everyone knows when we’re in a financial crisis but peopl...