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home / news releases / SPLG - The Bubble Term


SPLG - The Bubble Term

2025-08-15 08:04:00 ET

I can show, really precisely, that there are two warranted prices for a share. The one I prefer is based on such fundamentals as earnings and growth rates, but the bubble is rational in a certain sense. The expectation of growth produces the growth, which confirms the expectation; people will buy it because it went up. But once you are convinced that it is not growing anymore, nobody wants to hold a stock because it is overvalued. Everybody wants to get out and it collapses, beyond the fundamentals.”

Franco Modigliani, Nobel Laureate, March 30, 2000, New York Times

For further details see:

The Bubble Term

Stock Information

Company Name: SPDR Series Trust Portfolio Large Cap
Stock Symbol: SPLG
Market: NYSE

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