Bank of America's latest bubble risk indicator shows that while there is indeed some "bubble" pricing behavior in the current US stock market, the extent of its spread is significantly lower than in the late 1990s. As of August 28, there were approximately 20 stocks in the S&P 500 with a BRI higher than 0.8, representing only about 2.6% of the index's market capitalization. In contrast, at the height of the dot-com bubble, 50-100 S&P 500 stocks had high BRIs, corresponding to approximately 20%-40% of the index's market capitalization.
