Raoul Pal, CEO and co-founder of Real Vision, kicks off a two-week content campaign exploring the question, "Is everything a bubble?" He highlights the conflicting evidence that, on one hand, is pointing toward bubbles all around us and, on the other hand, pointing toward secular and reflexive trend shifts that can go on longer than anyone imagined. For this reason, Raoul worries that simply answering yes or no to the bubble question isn’t the best way forward and challenges viewers to check their biases at the door and be open to the idea that what looks like a bubble can be a paradigm shift, that bubbles may be present in today’s market but can be a source of incredible returns, and that the market is full of anti-bubble opportunities for those looking to opt out of the perceived madness. He cites examples of assets like bonds and crypto that some feel are a bubble but he believes are still great investments as well as reflation trade equities that he believes to be in a bubble, both from a narrative and price perspective (in spite of the overwhelming affinity markets exhibit toward this trade), and opportunities like emerging markets and commodities that are closer to anti-bubble territory. Filmed on February 3, 2021.