> All rallies do come to an end. The fact that we all don't know exactly what will cause this one to end is exactly part of the problem and 100% doesn't mean it won't happen. Usually some external shock spooks the market and a massive sell off happens.

Yes sure, but that statement contains zero information -- why do you believe it will end in a time short enough for the "market bubble" comments to even make sense?

External shocks -- sure of course. Inflation problems in US -- absolutely, it's a ticking time bomb with a debt crisis looming. Housing market I don't really know anything about but I'll take your word for it.

But all of this has been true for awhile, and could have been stated with equal veracity over the course of the last 5 years at least. Your beliefs shape your actions; so why does this belief shape actions any differently than it has earlier?

> ut honestly, I'll tell you after it happens and it will happen. Having lived through a few of these now when everyone tells you it's a sure thing and prices go up for ever you get an inkling you are near the pop.

Again totally true, I have also lived through them and expect more. But "these companies are IPO'ing because they know the market will pop" is kind of the thing that I was trying to address. For all the signals of market danger, there are plenty of optimistic signals all over the data. Growth is pretty robust across all sectors today.