With the stock market at all-time highs and returns over the past year some of the best in history, the word "bubble" is getting thrown around more and more by investors. But before we jump to conclusions, it is first important to understand what a bubble is and what the term means from a practical standpoint for investors. 
In this episode, we look at bubbles through a framework based on the three questions that we think are most important for investors to ask. 
1. What is a Bubble? 
2. Can a Bubble Be Identified in Advance? 
3. If We Are in a Bubble, What Can I Do About It? 
We hope you enjoy the discussion.
ABOUT THE PODCAST
Excess Returns is an investing podcast hosted by Jack Forehand (@practicalquant) and Justin Carbonneau (@jjcarbonneau), partners at Validea. Justin and Jack discuss a wide range of investing topics including factor investing, value investing, momentum investing, multi-factor investing, trend following, market valuation and more with the goal of helping those who watch and listen become better long term investors.
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