Contrarian shares a cautionary tale: https://seekingalpha.com/article/4401822-current-speculative-bubble-dwarfs-1999-2000
From highly shorted equities to SPACs to the largest capitalization market stocks, an almost all encompassing pervasive bubble has made future real returns lower than any other time in modern market history for the U.S. stock market. The abysmal level of future expected real returns is dismal even compared to 2000 or 2008.
References:
https://seekingalpha.com/article/4401822-current-speculative-bubble-dwarfs-1999-2000
https://www.wsj.com/articles/when-spacs-attack-a-new-force-is-invading-wall-street-11611378007
Econophysics2020 