Infinite Bubbles?

Talking Real Money - Investing Talk

Don McDonald

Education, Business, Investing, How To

4.5 • 811 Ratings

🗓️ 26 May 2026

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tom and Don tackle the impossible task of spotting market bubbles in real time, leaning on insights from Jason Zweigand Eugene Fama to argue that if bubbles were truly predictable, they wouldn’t exist. They discuss soaring semiconductor and AI-related stocks, speculative manias from tulips to SPACs to Bitcoin, and why diversification and disciplined rebalancing beat emotional market timing every time. Listener questions cover tax-loss harvesting and wash sales involving VT, VTI, and VXUS ETFs...

Transcript

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0:00.0	Your guides to a really great financial future.
0:09.0	Tom and Don are talking real money.
0:14.7	Wait, what was that?
0:16.7	Wait, was that a bubble?
0:20.4	I think I just heard a bubble.
0:22.8	Two bubbles.
0:23.9	Hey, I'm confused, but maybe we should talk about bubbles then.
0:27.8	Could be a hint.
0:29.1	Hi, everybody.
0:29.7	Welcome to Talking Real Money.
0:31.0	I'm done.
0:31.6	That's Tom.
0:32.4	This is Bubble Day.
0:35.6	And we want to talk a little bit about your incredible skill. And we know you all have this
0:42.5	skill because we've heard from you. You know when we're in a bubble. You can just feel it.
0:49.5	It's intuitive. We're all so much smarter than the market, and we know that. We know that because we're
0:56.0	always saying, well, this feels like a bubble. I think I'm going to get out of the stock
1:00.0	market for a while and go into cash because this feels like a bubble. Hmm, wonder if we've
1:07.2	ever felt that way before. Jason Zweig of the Wall Street Journal helped us out
1:14.7	recently with a little piece about predicting bubbles, Tom. Yeah, you know, and if you say
1:20.5	bubbles to me, I think champagne, but that's just me, I guess, so I, because I wish I had more of it.
1:26.4	I tried a recording of champagne bubbles, by the way. And you really can't hear them. Yeah. Okay. So I think you did. Right. So I had to go with the big bubble. Yeah. So I mean, he points, he makes a one very fascinating and recent point that, shocking really when you think about it.
	...

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