NEW YORK -- Has the investing world completely succumbed to bubble phobia?
Maybe the housing crash and the dotcom bust have addled our brains, but hardly a month goes by without someone warning of a bubble. Is the market for Treasuries in a bubble? What about Silicon Valley startups and junk debt? Is there, perhaps, a bubble in everything?
The problem with that perspective (or rather, the good news) is that financial bubbles just aren't that common, and if you see them everywhere you may be hallucinating.
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