the dot-com peak 20 years ago. In both instances, a very broad subset of stocks became so highly valued that speculation …, drawn from a book in progress, examines the history of stock markets for comparable pure price-chasing bubbles, finding nine … way down - of these greatest asset bubbles in human history. When one applies this framework to the current US stock …

of perverse incentives and moral hazard that often gives rise to yet another round of bubbles. The US central bank …'s current premise is that policymakers cannot and should not target asset bubbles. However, the housing story has rendered … untenable the prevailing belief that bubbles are impossible to spot ahead of time. The warning signals were ubiquitous - for …