Ben Carlson

speaker

1,555 appearances 4 recordings 4 series first heard Apr 2026 last heard 11 Jun

Ben Carlson’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 4 in all, peaking in Jun 2026 with 2.

newest first · ▶ plays the moment

And that's the hard part.

Yes.

I looked at the valuations of this and I tried to match them up with the dot-com bubble.

So the dot-com bubble is by far the biggest valuation bubble we've ever seen in the US stock market.

It dwarfs the 1929 crash even.

And I think the US stock market traded like 45 times earnings.

Japan at the peak was more like 100.

It blew it out of the water.

It's funny because in Japan, their culture, they don't have a culture of risk-taking people.

They're more conservative by nature.

And they haven't really had any bubble-like behavior since then.

In the US, the joke is like, I don't know, every seven years or so, we need a bubble, just like scratch an itch.

What else are we going to do?

Let's have a bubble and something.

In Japan, it doesn't really happen that much.

So I think the stock market in Japan, as a percentage of GDP, went from like...

30% in 1980 to 150% by 1989.

The run-up was really insane.

It went from 15% of the global stock market all the way up to 45% at the peak.

And it was bigger than the US stock market for a little bit there.

Showing 921–940 of 1,555 · page 47 of 78