Kyle Grieve discusses what bubbles are, why they form, and why they always feel different in real time. What you'll learn here: 00:00:00 - Intro 00:00:34 - Why understanding bubbles is critical for long-term investor survival 00:02:28 - How “this time is different” fuels every historical bubble 00:03:33 - Why smart money, incentives, and career risk inflate bubbles 00:05:16 - How investors rationalize bubbles using new, useless KPIs 00:06:50 - The predictable emotional arc: skepticism, euphoria, panic, collapse 00:07:56 - Why price detaches from intrinsic value during bubbles 00:10:19 - Kindleberger’s five stages: displacement, boom, revulsion, discredit 00:24:16 - Lessons from tiny bubbles like plank roads and Beanie Babies 00:42:25 - How human nature, not technology, causes recurring bubbles 00:57:18 - How to protect portfolios from bubbles by focusing on value, not narratives Transcript & Guest Info: https://www.theinvestorspodcast.com/episodes/from-railroads-to-ai-the-timeless-patterns-behind-market-bubbles/ 🤝 Join a curated group of passionate investors focused on intrinsic value, disciplined analysis, and uncovering high-quality stock ideas. https://theinvestorspodcast.com/mastermind ▶️ Related Episodes: - History's Biggest Market Bubbles w/ Clay Finck: https://youtu.be/q_SHLDeNk-w - The 1999 Dot-Com Bubble & Enron's Collapse w/ Clay Finck: https://youtu.be/PtxiwNaeDSk - A History of Stock Market Bubbles w/ Legend Investor Jeremy Grantham: https://youtu.be/az5UjfRqRwA 📖 Books Mentioned: - TrendWatching by Ron Insana: https://amzn.to/43pYIok Listen to our episodes here: https://open.spotify.com/show/28RHOkXkuHuotUrkCdvlOP Visit our website: https://www.theinvestorspodcast.com/we-study-billionaires/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #MarketBubbles #ValueInvesting #StockMarketAnalysis #HowardMarks #InvestingPsychology