Worries about a retail investor-led speculative mania, part 2

Back in June, I wrote a post about worries that were beginning to surface regarding a speculative mania taking form in the equity markets. I want to update the thinking from that post now that we have had three months' additional data. And I will use some of the comments Benn Eifert made to Joe Weisenthal and Tracy Alloway on Bloomberg's Odd Lots podcas…