The Problem With Bubbles

In any bubble, there are very good underlying fundamentals and the bubble itself is sort of an overlay. Is there a better way of gauging intrinsic value that doesn't rely on fundamentals? That's the million or trillion dollar question. There comes a point when a bubble becomes obvious, and that's where it probably is a few standard deviations outside some kind of norm. The only way you can sustain these continuous growth rates of asset prices is that they are eventually fueled by debt.