Q: A bubble for me is defined by our taxi driver or plumber telling you how he has made $1 million dollars in the stock market and is going to quit his job to trade stocks for a living. We are not there yet.
5i Research Answer:
While it sounds anecdotal, we do think there is some signal to this. If you keep hearing about certain investments/themes in one' s everyday travels, it can be a good sign that the theme has gone mainstream and everyone who can have exposure to it already does! The other side to this though is that sometimes we see/hear others searching for this type of situation/signal to confirm their priors. We might use an example of hearing about a stock/theme on reddit is not the same as your hairdresser/barber who never talks stocks bringing it up.