We’re starting to see stories that current Bull Market is long in the tooth and about to burst. It is important to make a distinction between being pricey and being in a bubble. When stocks are pricey it means that future returns are generally lower. A bubble means that stocks no longer have any connection to the real asset prices and the bursting of the bubble can result in price declines of over 50%. Is the stock market currently in bubble? Probably not? While the S&P 500 did gain 32% l...