Mid & Small Caps: Bubble or Boom?

First and foremost, the honest answer is that I don't know. And assuming that I knew about it, I don't think we can really predict it. Whether it is in a bubble territory or not is entirely a function of a lot of investor behaviour. If the market starts going up again, it'll look as if it was not in bubble territory. If a lot of investors pull out money, it'll look like it was in bubble territory. We only get to know of it in hindsight - only after it has happened.

This article was originally published on February 21, 2025.