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This "As long as we keep pumping out good IPOs, we’ll be fine." And this "Fundamentally, bubbles need the mechanics of a ponzi scheme in order to exist. "

Translation - keep building crap because there is still enough suckers for this Ponzi to work for a while.

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>A bubble can occur when speculators invest with the belief that a sucker will come along after them to buy the stock at a higher price.

This seems more of a requirement for ANY market - not just a bubble. Aside from fixed-income or high-dividend paying stocks, When would an investor ever buy a stock without the belief that someone else will eventually buy it for a higher price?

Dividends.

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