It's only a bubble if it's going up and they don't own enough of it, or any at all.
They only call things bubbles when they have a hard time understanding why prices are doing what they're doing.
As someone who studies human behavior every single day, I can tell you with a high degree of confidence that 99.9% of people who call things bubbles haven't actually done any of the work required to determine whether something is in a bubble or not.
And that's the key thing here.
There is a huge arbitrage between the people who put in the work, and actually take the time to analyze markets using real data, and those who are too busy doing other things to truly have an honest opinion about whether a particular period of time is, in fact, a bubble.
Bubbles, as those of us with common sense know, are incredibly rare, by definition.
So when someone calls something a bubble, they are almost certainly wrong about that, or in most cases, just making it up because they don't know how else to describe certain market behaviors that they can't wrap their heads around.
Our International Hall of Famers list is composed of the 100 largest US-listed international stocks, or ADRs.
We've also sprinkled in some of the largest ADRs from countries that did not make the market cap cut.
These stocks range from some well-known mega-cap multinationals such as Toyota Motor and Royal Dutch Shell to some large-cap global disruptors such as Sea Ltd and Shopify.
It's got all the big names and more–but only those that are based outside the US. You can find all the largest US stocks on our original Hall of Famers list.
The beauty of these scans is really in their simplicity.
We take the largest names each week and then apply technical filters in a way that the strongest stocks with the most momentum rise to the top.
Based on the market environment, we can also flip the scan on its head and filter for weakness.
Let's dive in and take a look at some of the most important stocks from around the world.
Below is the 8th ASC Mastermind Lab Course. These are special videos that will be made available throughout the duration of the 12-week course featuring conversations with professionals from across Wall Street discussing topics in their expertise.
If you're going to talk about market seasonality, you might as well talk to the master. Jeff Hirsch is the editor and publisher of the Stock Trader's Almanac. His dad, Yale Hirsch, literally created the Almanac and is responsible for bringing the idea of market seasonality to the mainstream.
There is no one that understands market seasonality better than Jeff. I have learned everything that I know on this topic from him. I hope you enjoy our conversation.
During our Analyst meeting this morning, I observed the relative "calm" in the Chinese Large Cap ETF $FXI and how, while down for the day, it is still holding in a range it's been in for over three weeks now.
And we love how it's holding this range as a healthy consolidation from its late September breakout.
There's nothing about this chart that is bearish to me: