Saturday, November 7, 2026 · Deep Dive
The Degenerates Journal — Deep Dive: Are We in a Bubble — or Not? · Saturday, November 7, 2026
About this episode
The Degenerates Journal in audio: a deep dive into whether today's market is a bubble — today's market put next to the dot-com peak, measure by measure.
The short answer: on forward earnings, today costs a third to two-thirds of the peak; on trailing earnings and the CAPE, we sit near it. The leaders are far cheaper than Cisco was — and enormously profitable. What decides it is whether the expected profit growth actually arrives.