Tom Lee: “A Bubble Is Just Your Friend Making Money”

Market Sentiment - Skepticism is necessary for markets to rise; universal bullishness signals a market top [1] - A bubble forms when widespread bullish sentiment fails to translate into market gains [2] - The current market rally is viewed with skepticism by institutional clients, suggesting further upside potential [1] Investment Strategy - The non-consensus view that stocks should rise strengthens the case for investment [1] - Rising digitalized treasuries do not necessarily indicate a bubble [1]