People Just Can't Stop Talking About How We're In A Bubble

Jim McCluskey/Flickr

This has really been the theme of market talk over the last several weeks: People are obsessed with this idea that we must be in a new bubble.

Dan Greenhaus of BTIG shares the latest anecdotes:

It seems there's no escaping it. This weekend, the WSJ is at it again, both in A Return to Internet Mania? and Is This a Bubble? while the Financial Times asks Is the Fed Brewing Up Bubble Trouble? Anecdotally this weekend, several people this weekend at non-work related functions asked some form of the question "How does this market keep going up?" We understand the infatuation; after all, S&P 500 is up (10%) in nine of the last eleven weeks while its year to date gain is more than 26% even as the economy plods along at a sub-attractive rate and the unemployment rate remains annoyingly elevated.

No idea what this actually means for the market, but it is interesting how much this meme is taking hold.