Bubble, in the context of financial markets, is a word with a specific meaning. It signifies that the price of certain assets exceeds their intrinsic value — some rational estimate of future returns — and by definition, therefore, it implies some mania, euphoria or irrationality.
在金融市场语境中，“泡沫”一词有其特定含义。它指某些资产的价格超过其内在价值——即对未来回报的理性估计——因此按定义意味着存在某种狂热、亢奋或非理性。
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