Blowing way bubbles?--Maybe the NASDAQ Bubble wasn't a bubble

So maybe there wasn't an internet bubble. Several academic papers are trying to justify the high valuations that existed in the late 1990s.

For instance Pastor and Veronesi (P&V) examine the question and allow for uncertainty in future earnings and, unlike similar work by others, they conclude that the NASDAQ was not necessarily overvalued.

Possible the best way to understand their