Market pundits have been talking bubbles lately. The broad market appears to be overvalued by many measures. The recent volatility involving GameStop and silver have increased talk of bubbles. But exactly what is a “bubble,” and can we only identify one in hindsight?
In the aftermath of the Dot-Com Bubble, I came up with the following checklist of characteristics common to financial bubbles. You can find a more extended description of each in a more thorough discussion&nbs