On the Other Hand…

Maybe market bubbles aren't an example of agreeing with the majority. Agreeing with the majority might explain high asset prices but they can't explain increasing asset prices. Maybe market bubbles are what happens when people move their opinions in the direction of the majority but overshoot it.

If people have a tendency to overshoot the opinions of others, the best way to agree with the majority is to lean a little against what appears to be the majority opinion.