JARED DILLIAN: Back away from the punch bowl before the bubble bursts
'My definition of a bubble is when people make money out of all proportion to their intelligence or work ethic, and it seems to apply here'
Everyone knows that when the shoeshine boy gives you stock tips, it is time to grab the canned goods and head for the hills. It happened to me in 2000 at the height of the dot-com bubble. A San Francisco cab driver gave me advice on trading options. I’m sure most people have had similar experiences in the current bull market. One of my subscribers says he was upbraided by a burlesque dancer (don’t ask) for not owning Bitcoin.