The cheap money era of ultra-low interest rates and quantitative easing has ended. The Federal Reserve raised federal fund rates to 4.50%-4.75%, a level last witnessed in October 2007. Despite the conclusion of an epoch, speculative bubbles continue to emerge. Market frothiness seems to be the theme in recent years. First there was the GameStop (NYSE: GME) rally that subsequently crashed in March 2021, during which the stock lost 40% of its value within half an hour. Then came the crypto winter marked by key events such as the stablecoin terraUSD sell-off and FTX bankruptcy. In conjunction, another digital asset bubble was in the making. The non-fungible tokens (NFT) bubble showed signs of bursting as prices dipped and trade volumes plummeted. Today, the hype around artificial intelligence (AI) swells as another bubble shows signs of forming yet again. Soaring AI stock prices The stock market registered positive returns in 2023. On a year-to-date basis, NASDAQ, NYSE, and the S&P500...