Conventional measures of equity valuation suggest that American stocks are about as pricey as they were during the dotcom bubble. You might imagine, then, that short-sellers—who bet on prices falling—are circling eagerly, anticipating a big correction. But when we spoke with three of America’s most prominent shorts, their views turned out to be more nuanced.

Staying in the world of finance, tensions between the old guard and the new are growing. Wall Street’s status as the Republican Party’s financial aristocracy looks shakier than ever. Crypto-industry upstarts are muscling in, posing a threat to banks’ influence.

Speaking of crypto, don’t miss the new edition of Inside Economics, which explores the industry’s wild year. Crypto has no shortage of enthusiasts and boosters (including America’s president), but it also raises plenty of concerns. You can watch the episode on our app or on the Insider hub.