Is the stock market at the too much of a good thing level?

I'm David Brancaccio in Los Angeles. A key guide to many a savings plan is the S&P 500 stock index.

That is up 22% in a year, more than twice the return it averages over time.

There's a conviction that all this AI means profits, profits, and more profits. Plus, we see a

surge in speculation driven by internet chatter. Should we worry, the stock market like a vast

bowl of oatmeal and a microwave, is about to bubble over. Let's consult veteran investor,

Barry Ritholtz, chairman and chief investment officer at Rittholt's wealth management in New York.

Hey, Bear.

Hey, how's it going?

Stock market seems to be going, and people seem to be, what's the term these people use?

Risk on.

Trees grow to the sky.

They seem to go to space.

Stock market indicators are up.

Meme stocks are back.

Crypto is in.

Is that worry you?

So everything you're describing has been a characteristic of the market. I don't know,

since we made the lows in March 09, we've seen meme stocks come and go. We've seen crypto explode.

I'm more intrigued by the fact that for the first time in, I don't know, a dozen years, emerging markets are doing well.

Europe is substantially outperforming the United States, at least in terms of market returns.

I'm not sure everybody's focus should be solely on what's going on in the U.S.

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