What Is the Mark of a Bubble?

When you see things go up five times the first day, it is really very hard to resist the willingness to buy a lottery ticket. But we know that most of the participants in lotteries are unsuccessful. Most people extrapolate than understand concepts like regression to the mean. Growth stock investing has vastly out performed value stock investing for many years and is particularly doing so this year. Anybody who doesn't have the tek in the softwar stocks is having a poor year.