The Bubble Nobody Wants to Call a Bubble Every market cycle has its darling. In 1999, it was dot-coms with no profits. In 2008, it was real estate backed by fantasy math. And in 2025, it’s AI—the new gold rush, where everything from toothbrushes to traffic lights claims to be “powered by artificial intelligence.” But behind the dazzling tickers and stock splits lies a quieter corner of the market—one that’s been quietly compounding wealth while everyone else plays financial musical chairs. Enter IWMI , a water infrastructure fund yielding an eye-popping ~14% dividend . While retail investors chase momentum and tech hype, IWMI investors collect checks so steady they could water a desert. This isn’t just another dividend story—it’s a lesson in recognizing the real economy while the crowd chases mirages. Chapter 1: The Making of a Bubble Let’s start with the obvious. Every bubble begins as a revolution. AI really is transformative—just as the internet, housing, and blockchain once ...