The excessive bubbles of history took a great economic situation and extrapolated it into the future, based on an assumption that today’s perfect conditions will continue. We find there are bubbles in all asset classes – property, stocks, art, basically any area where people trade. Jeremy Grantham recently said - “We are in a bubble,” “but it is unlike any other.” Everything is overpriced, he said, but there is no way to say when they will peak. To call that peak, it is useful to look for signs of “crazy” behaviour. In this episode, we ask what is a bubble? Is there any agreement on what constitutes a bubble? Are there any similar characteristics? We also discuss bubbles across countries, industry sectors and of course individual companies. Thanks for listening! Download a free chapter from our book ’Low Rates, High Returns’ www.lowrateshighreturns.com/podcast Pete Wargent www.petewargent.com/ www.linkedin.com/in/pete-wargent-37228322/ Stephen Moriarty twitter.com/SGM63