THREE INGREDIENTS OF MARKET BUBBLES

Via Morningstar:

“Innovation, speculation, and delusion have come together in bubble after bubble, says Financial Analysts Journal editor Rodney Sullivan.”

Source: Morningstar

Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds. Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances. He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.