SpaceMonkey, I agree with you for the models. Partially on your remark concerning Manager and Trader. Normal Managers and Traders, I mean no crook ones, obeys and are constrained by the overall bank risk management. An I am quite confident that financial organizations are looking forward to a fiable tool to measure the bubble risk, in order to include it into their current valorization, through an extra independant organism. At least, I bet that such an organism would have been useful to bear stern, AIO and others.Jawabeam, maybe should I try to explicit a little bit this idea. It means a mathematical formalism. Let's go to it.Suppose that I am the i-th trader, among a population of N trader. Today time is t. I own Ni(t) shares, and Ci(t) in cash. The price of the share today is S(t). So that my portfolio is valorized as Ni(t)S(t)+C(t). I have some information about this company, and I believe that from today t to a future date T, this share will follow a Geometric Brownian Motion, of rate ri(t,T), and volatility Vi(t). I have to place bid order b, and ask order a, for the period ranging from time t to time T, because I proposed a ride to a nice girl into my ferrari car.The orders are :i) if the share price crosses my ask price a, I will buy C/a shares (omiting the integer part to simplify)ii) if the share price crosses my bid price b, I will sell Ni(t) shares, having an added cash of Ni(t)*b.iii)if the share price remains between a and b, then nothing happens. Thus the expected returned value of my portfolio should be something likeC/a E(S(T)-C(t) + Ni(t)S(t) | S(t)<a) ) (i)+ Ni(t) E(S(T)/b + C(t) | S(t)>b) (ii)+ (Ni(t)S(t)+C(t)) E(b<S(t)<a) (iii)To optimize, I select a and b in order to maximize the previous fonctional. Since I suppose the underlying motion for this period, it involves mainly Brownian Bridge like computations, and I should be able to explicit them.From my side, I implemented this very simple model some four years ago. Numerically, it leads invariably to a bubble. I did it for fun, but I could look into my archives to see if I still have the corresponding code and a quick analysis if there is some interest of course.