[quote=AN][quote=DWCAP][quote=Multiplepropertyowner]All I know is that my 401k is way way up.
P.S.
A 9000 stock market is not all that bubbly.
MPO[/quote]

Says who? A bubble can form at any price level is profits dont support the share prices.[/quote]
What’s considered a bubble? The DOW was at ~9000 in 1998. Do you think we’re back to 1998 nominal profit level?[/quote]

The point is that a bubble can form at any price level if underlying fundamentals dont support what is going on, irregardless of weither it was a justified price level before or not.

I suppose I would define a bubble as a time when prices begin to reflect expected future price increases (not company profit increases) and no longer follow basic valuation methods. If P/E ratios historically were between 20-50, and suddenly are now 700 and increasing, I would approach the situtation as a bubble; and then ask why it isnt.