Forget GOAT, Look at GBOAT: The Greatest Bubble of All Time

by Charles Hugh Smith
Of Two Minds

So enjoy the GBOAT (greatest bubble of all time) but watch the clock.

Sports fans debate who qualifies as GOAT–the greatest of all time: in hoops, Kobe, Jordan, Kareem, Magic; in boxing, Ali, and so forth.

What we have today is GBOAT–the greatest bubble of all time That it’s GOAT is beyond doubt, as the charts below reveal.

Bubbles have a few unique characteristics which cannot be captured by financial metrics. The most important such characteristic is that mainstream financial managers don’t see it as a bubble. For those who do admit valuations may be a bit stretched (heh), these professionals shrug and say that since the music’s still playing, they have to keep dancing, i.e. yes there may be a bubble but it won’t pop anytime soon.

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