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The Portfolio Effect
Bubbles are a useful concept, but actually it's not a very good metaphor. And for a fire, you need three things, you need fuel, oxygen, heat. They get all the big booms in markets and see what those three components are. For fuel, they think about in terms of money, credit, interest rates being low,. You're oxygen is perhaps the one which is most linked to sort of the viral nature of anything. How marketable is a product and how easily acceptable is it? Can a public access it easily? Which I think is very interesting. And finally, and I guess this is where those behavioral science bit comes in, you need amateurs playing