My Go-To Market Bubble Indicator

TBI stands for “Tennis Buddy Indicator.” It’s my surefire gauge of what individual investors like you are interested in… and worried about. It works on a similar scale as “the Uber driver” test. That is, when an Uber driver gives you investment advice — in anything from stock tips to cryptos — you know the market is frothy. The difference is the TBI is better. My tennis buddies are just as likely to get as caught up in the media’s hype as anyone else… so they pepper me with questions anytime there’s news about oil prices (currently the highest since 1980), gold or tech stocks. This morning, I learned a few had tuned in to hear my session with James Altucher on Saturday. A few others had already read yesterday’s missive on Kazakhstan. In between sets, we shared speculative pensees about cryptocurrencies and Bitcoin mining. One was unaware how energy-intensive the process is. To be honest, the crypto