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Opinion
Barry Ritholtz

How Do You Define a Bubble? (And Are We in One Now?)

Taken as a whole, can we (as defined by Asness) discover “any reasonable future outcome can justify present prices"?

"The term bubble should indicate a price that no reasonable future outcome can justify."
-Clifford Asness

Fridays are the day I like to wax philosophical about all things market related, with an emphasis on the failings of your wetware. This week is no different.