here’s a favored theory for what’s going on: we are in an era of rolling bubbles. the entire market may not be, but at any one point there’s a few of them. for a while, staples were in a bubble - that unwound without issue. now, more classic/familiar bubbles have emerged in speculative areas like nuclear, DATs, bitcoin miners pivoting to AI etc. that unwinding is seemingly getting a lot of attention, because it’s so popular with retail. at the same time, many sectors and leading companies are trading at very reasonable valuations. sub-bubbles popping while the overall trend remains intact is still my general thesis.