My friend Josh Brown reminded us yesterday of this terrific chart from Jean-Paul Rodrigue, a professor in the department of global studies and geography Department at Hofstra University.
Of course, the key question is: Where are we on the chart? My view is that we're through the "Awareness" phase as many of the bears have already thrown in the towel (Jeremy Grantham is the latest one).
That puts us in the middle of the "Mania" phase. We've already been through "Media attention" so we must be somewhere around "Enthusiasm."
What's your best guess?
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(Barry Ritholtz writes about finance, the economy and the business world for Bloomberg View. Follow him on Twitter @Ritholtz.)
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