well, maybe the capitulation of the bears could bring it down...

I think you may be slightly misunderstanding his take. I don't think he would argue this bubble is going to pop. Maybe increased volatility with a couple "events" but not a nominal pop. The bubble will pop through sustained inflation. The S&p will be up 100% while the dollar will have lost 60% of it's value over 5 years. From a metrics perspective the bubble is gone at that point.

So yeah, after 10 years of thinking bubbles were about to pop I'm finally on the "this is the exception" this market is never coming down team. It really is politically infeasible for it to move in any other direction while it's totally politically feasible to print money and maintain high nominal values.

If I had to channel Ray Dalio he would say:

- Keep your Beta as high as possible, you want to be as diversified as possible heading into a difficult environment

- Cash is trash

- Value will accrue to real assets and hard money. Real estate, equities with consistent cash flows and strong books, commodities, crypto, land, natural resources. These kinds of things

There are plenty of videos of him on youtube going deeper on all of these topics