What's your advice right now, Cameron, to people
who miss this move year to day and want to
allocate fresh capital to equities patients. I think that
we've also seen it. Interesting city came out this
morning and showed that there was 20 billion$21 billion
of inflows into equities last week. And that's one
of the highest levels in recent years on a weekly
basis. So we already saw the FOMO trade in
action as we pushed up towards that front 4200 level
. But if you take a step back and move
beyond positioning, which can move markets in the short
, what you look at is an equity market that
is trading near the high end of prior valuation ranges
, pre-covid, which means you've already priced in a
lot of liquidity support a lot of potential fed easing
into current valuations. And then on the earnings front
, you have a big rebound already priced in two
earnings in 2023 in 24. So you really don't
have any sign of recession in current earnings forecast,
which just means that it's a high bar for markets
to jump over really to get past sustainably that 42
or 4300 level. So we think that in the
near term, you likely get a better price in
order to get access to this market. And we
really do prefer things like equal weight indices which don't
have stress stretch valuations trading at just about 15.5 times
if you really want to get exposure to the market 00:01:23.460 --> today.