Sohn 2023 | Kiril Sokoloff in conversation with Stanley Druckenmiller

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  • Опубліковано 24 гру 2024

КОМЕНТАРІ • 328

  • @mojasppp
    @mojasppp Рік тому +462

    Guys its 2023, you’re interviewing a legend here. How can you not take care of the sound?? Other than that, amaizing content

    • @johnroberts5225
      @johnroberts5225 Рік тому

      his mic is so stupid

    • @dmora2386
      @dmora2386 Рік тому +17

      To be fair, these are business men not twitch streamers. They don't have a shure sm7b clamped to thier Oak desk. Similarly, performing professional post processing on audio may cost more than the video brings in, in revenue. So... Do your analysis.

    • @silverbullag4759
      @silverbullag4759 Рік тому +13

      Hard argue with that sound is very poor

    • @davidhastings2603
      @davidhastings2603 Рік тому +9

      Sound is very low on the Interviewers side,Still an Excellent just hard difficult to here the questions. The answers are Loud & Clear❤

    • @jerrytritz
      @jerrytritz Рік тому +3

      As bad as th Beatles White Album’s initial release. Tragic

  • @neilhegarty-mq4dd
    @neilhegarty-mq4dd Рік тому +4

    A real privilege to have this access these days. We are very lucky. Thanks very much for this.

  • @henrypadilla7571
    @henrypadilla7571 Рік тому +126

    Use cc when sound is poor. Druckenmiller and Sokaloff are both legends. Good high level conversation.

    • @robertsmith37
      @robertsmith37 Рік тому +1

      what is cc????

    • @viirusiiseli
      @viirusiiseli Рік тому

      ​@@robertsmith37 Closed Captions

    • @bekster5
      @bekster5 Рік тому +2

      Great advice for drivers 🙄

    • @ecjjox
      @ecjjox Рік тому +1

      @@bekster5 Even better advice is concentrate on driving.

    • @sivi9741
      @sivi9741 Рік тому

      About those millionaire an billionaire buy just a decent mic ?

  • @mktwatcher
    @mktwatcher Рік тому +43

    Thank you for this interview and sharing it for free on UA-cam. Its greatly appreciated.
    Please help Mr. Sokoloff get his Audio/Volume higher on future videos.

  • @doh4522
    @doh4522 Рік тому +32

    It’s always a dead giveaway that you’re dealing with greatness when so much humility and self awareness is shown

  • @Gunni1972
    @Gunni1972 Рік тому +2

    Play hard, land hard. That's a reality, i learned the physical way.

  • @curtishathaway6166
    @curtishathaway6166 Рік тому +18

    Druckenmiller is so enjoyable to listen to. Encompasses a wide range of economic issues and is so truthful about predictions being just that. Other "experts" think since they have convictions that they know the future. And most media outlets never return to those predictions and point out how wrong they were. And as others have said, it's such a shame that Sokoloff's audio was so poor.

  • @juzkrej
    @juzkrej Рік тому +52

    "When you have free money, people do stupid things. When you have free money for 11 years, people do really stupid things." - Stanley Druckenmiller.

  • @Aziz__0
    @Aziz__0 Рік тому +99

    The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals?

    • @2024Red-j5t
      @2024Red-j5t Рік тому +1

      It’s always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I’d say you’re better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.

    • @Countstep0099
      @Countstep0099 Рік тому +1

      @@2024Red-j5t true, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.

    • @Blitcliffe
      @Blitcliffe Рік тому

      @@Countstep0099 Can you leave in details about your investment advisor here? I’m in dire need for one.

    • @Countstep0099
      @Countstep0099 Рік тому +1

      @@Blitcliffe My advisor is NICOLE DESIREE SIMON a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

    • @Blitcliffe
      @Blitcliffe Рік тому

      @@Countstep0099 After locating her, I composed an email and arranged a phone conversation. I'm optimistic that she will replies.

  • @pooh6546
    @pooh6546 Рік тому +29

    Can't believe we get to listen to such a great person like Stan. Everyone should listen to Stan's SOHN interview a year ago and see how more right he was then wrong

    • @shumbi11
      @shumbi11 Рік тому

      It is a privilege of our times that we can access such minds.

    • @hill2750
      @hill2750 Рік тому

      He sounds like he's positioning for a hard landing, so what does he see the Fed doing that keeps him out of the long bond?

    • @shumbi11
      @shumbi11 Рік тому +1

      @@hill2750 He has better ways to hedge than we humble plebs. I'll look to hide in TLT by Q4 into 2024. Stan's probably looking at credit default swaps.

    • @hill2750
      @hill2750 Рік тому

      @@shumbi11Very interesting, I'll need to give it a look

    • @dustinmorris1317
      @dustinmorris1317 Рік тому

      @shumbi11 what are you buying in your 401k? I already started with the bond purchases last month and plan to keep buying mid term bonds until Powell drops to 2%ish

  • @arturocastelo
    @arturocastelo Рік тому +5

    What an interview! Thank you so much for your insights Stan!

  • @minyu2052
    @minyu2052 Рік тому +2

    Thank you Kiril and Stan. This is so insightful.

  • @DEValentine
    @DEValentine Рік тому +2

    Nothing more valuable than an hour with The Great One during interesting times.

  • @petrock1985
    @petrock1985 Рік тому +5

    Thanks Stan and Kirill, amazing interview!!!! Stan is right about weakness in trucking which nobody really talks about.

    • @roblampe1380
      @roblampe1380 Рік тому

      I am a trucker. We are getting killed. I don't think it's a profitable business right now. 80k for used truck, it breaks down, 20 more k for repairs. Low rates equals bankruptcy for these guys.

  • @jonasscheuer7639
    @jonasscheuer7639 Рік тому +13

    When Stanley Druckenmiller speaks, you listen.
    This was a great interview by Mr Sokoloff, letting Mr Druckenmiller speak but still steering the converstion to a fruitful outcome, which is quite frankly not that hard with Mr Druckenmiller. Thank you for publishing this interview.

    • @madmantrader
      @madmantrader Рік тому

      Only thing is he is short the dollar however, the dollar appears to be bottoming unless it is a fake out.

    • @Pappaous
      @Pappaous Рік тому

      Pavlov's dogs. 20 years of fiscal fantasy growth, Stan played his hand. Now the casino is on fire, you opt. to listen to a veteran deserter. (Decided years ago to support oligarch growth at the expense of the commons. Well, it is the bottom of the 9th, two outs, 2 balls, 2strikes... Swing batter! 😂

  • @AlanSmith88888
    @AlanSmith88888 Рік тому +2

    Incredible insight thats easy to understand even for the regular folks.

  • @heathmulholland1228
    @heathmulholland1228 Рік тому +1

    Amazing questions. Really thoughtful

  • @filipb1462
    @filipb1462 Рік тому +4

    Thank you Kiril and Stan. This was very insightful 🙏

  • @julieta203
    @julieta203 Рік тому

    Probably 1 of only a few traders I ever listen to. A true legend.

  • @acandersjr
    @acandersjr Рік тому

    Wonderful interview. I'm glad I spent this hour with so much experience and wisdom.

  • @rapidsk8
    @rapidsk8 Рік тому +33

    Sokoloff audio is terrible, but I can listen to Stanley all day.

    • @simrans3675
      @simrans3675 Рік тому +1

      I am so glad you share your audiology assessment with us and that you were able to listen to Stanley atleast. Thanks god for that! How was your day otherwise? I am worried about your breakfast as well. Would you like to share what was 'terrible' there and what you could eat 'all day'? Could be huge, if true!

    • @CarsInAction1
      @CarsInAction1 Рік тому +1

      @@simrans3675 ur not real

    • @simrans3675
      @simrans3675 Рік тому

      @@CarsInAction1 Neither are you :-)

    • @simrans3675
      @simrans3675 Рік тому

      @@CarsInAction1 Also, it's 'You're', not 'ur' - must be a Gen Z loser, at best!

    • @johnmorelli3775
      @johnmorelli3775 Рік тому

      @@simrans3675 If you actually listen to Kiril's audio you will have your answer. it is obviously poor quality which is why so many comments below.

  • @JG-re2bb
    @JG-re2bb Рік тому +9

    Great discussion! Only negative was that Sokaloff was inaudible at parts. Not sure if he just mumbles or if it is due to other issues

  • @danielaltiokbrown2028
    @danielaltiokbrown2028 Рік тому

    Great questions, great insight, perspective & balance for us to take away & digest & come up with our own conclusions/ideas. Thanks Henry Padilla for the idea to turn on cc when sound not so great at times.

  • @Tzmaker
    @Tzmaker Рік тому +5

    kinda like the background and how it fits with drunckenmiller's deco. Might considerer using it myself

  • @johnsmb5435
    @johnsmb5435 Рік тому +4

    Thank the Lord Jesus Christ for your blessings. Glory to God

  • @Pug318
    @Pug318 Рік тому +1

    I must say that I am one of those individuals who can truly appreciate listening to these gentlemen speak. The interview was great and provided me with fantastic insight.

  • @jake4024
    @jake4024 Рік тому +7

    The misuse of monetary policy has caused massive wealth inequality.

  • @thecryptobunker
    @thecryptobunker Рік тому +1

    What a great combo on this one wow. Legendary.

  • @alm9368
    @alm9368 Рік тому

    Thank you very much for uploading this wonderful dialogue.

  • @vengeance9255
    @vengeance9255 Рік тому

    2 Legends. Godspeed.

  • @spsuganth90
    @spsuganth90 Рік тому

    Anybody able to get a look at all the books in the shelf behind both of them? Would love to have the list

  • @vb9366
    @vb9366 Рік тому

    Thanks for putting this up!

  • @robwolfe6120
    @robwolfe6120 Рік тому +4

    48:57 possibly the most emotion I've ever seen Druckenmiller display… The extended eye blink 😂

  • @jonEmontana
    @jonEmontana Рік тому

    Great listen. Legend

  • @UKtoUSABrit
    @UKtoUSABrit Рік тому +2

    The US Govt needs many more minds like Druckenmiller's to be involved in educating our policy-makers. There's a reason billionaires become billionaires - cos they are VERY, VERY smart. Let's use their intelligence and experience to get all views considered BEFORE huge sweeping govt policies are put in place - like the idiotic Green New Deal.

  • @brainkill7034
    @brainkill7034 Рік тому

    Excellent interview, thank you for sharing.

  • @mountainpatriot7673
    @mountainpatriot7673 Рік тому +3

    There's no such thing as luck. Mr. Druckenmiller is a very blessed man. Our country needs brave leaders who will end this destructive pattern of money printing and reel in spending, cut programs, and allow capitalism to weed out the bad apples.

  • @tomski2671
    @tomski2671 Рік тому +2

    Good talk with one exception: Where is the Global Warming I have been promised?
    Seriously, I was sitting outside at Starbucks and had to go sit in the car it's so cold this summer.

  • @memphiscameraman
    @memphiscameraman 5 місяців тому

    I love listening to Druckenmiller. Can we please include the Trump tax cuts for the rich in 2017 in the mix of reasons why the debt went up so much in recent years? Blaming entitlements for the looming debt crisis is unfair. Saying old folks deserve the brunt of the pain now without talking about higher corporate taxes is unfair. He says look at France and that is a good suggestion. It is possible to take care of a society if we are committed to that idea. In France they speak of "social cohesion" which is a foreign concept in the U.S. now.

  • @inmuebles-comerciales-Peru
    @inmuebles-comerciales-Peru Рік тому +5

    Great interview but Kiril should put some time and $ into improving his audio setup

  • @cris471
    @cris471 Рік тому +2

    Great stuff but please provide a better sound quality next time !

  • @prana8660
    @prana8660 Рік тому

    Wonderful interview ❤

  • @gregoryw9
    @gregoryw9 Рік тому +4

    Audio was terrible. Such a shame when there is so wisdom to be heard

  • @JOlivier2011
    @JOlivier2011 Рік тому +2

    Raise taxes. Don't cut entitlements. Raise taxes. The upper tier can afford it.
    What were tax rates after the 30s? When America 'did ok'

  • @keithconn5739
    @keithconn5739 Рік тому

    What about individuals on social security who never paid in. Are all who receive ss and Medicare legal residents of the USA?

  • @Adam-km3xy
    @Adam-km3xy Рік тому +7

    Billionaire investors both having no clue on computer audio equipment. Got to love it.

  • @LOSTmanONTHEINTERNET
    @LOSTmanONTHEINTERNET Рік тому +9

    Presenter bad mic quality and croaky voice make this a tough listen

  • @hill2750
    @hill2750 Рік тому +2

    I dont ever hear people talk about how much of a special case the Boomer generation was for the inflation of the 70s

  • @casaj6663
    @casaj6663 Рік тому +1

    At 32:30, he says treasuries are off the table. If I can get 5% in short term treasuries, why not park cash there while waiting for a big opportunity? Just trying to understand his rationale. Maybe I didn't understand his statement.

    • @P__114
      @P__114 Рік тому

      I was confused by that too

  • @shadwills8594
    @shadwills8594 Рік тому +3

    Bummer. I was really excited to hear this interview, but the sound is unbearable.

    • @P__114
      @P__114 Рік тому

      Lol, grow up. It’s not that bad.

  • @pibob7880
    @pibob7880 Рік тому

    Ok, capitalist you have your point... respect.

  • @oceansunsetak
    @oceansunsetak Рік тому

    Good one. Stanley and i went our separate ways. Now my main source of income is social security followed by investments. Medicare is my heath insurance. A political solution to funding seems unlikely. The government continues to provide retirement and medical to 38 year olds in the military, fire, police.

  • @hurleypiano3953
    @hurleypiano3953 Рік тому

    Perfect accoustics

  • @issenvan1050
    @issenvan1050 Рік тому

    Was Ed Hyman at their staff meeting?

  • @nomadcorporatist
    @nomadcorporatist Рік тому +2

    why the host couldnt afford a better microphone

  • @Nocturne83
    @Nocturne83 Рік тому +1

    I can't hear any of the questions, the answers were great though!

  • @justcallmeccrazy2116
    @justcallmeccrazy2116 Рік тому +1

    Hey Why when talking entitlements to get back return on invested capital ( which many people paid into) are government employee entitlements ( called retirement) not mentioned ? 20 years and out firemen, 30 years and out post office employees, military 20 years, defense companies and on and on it goes not to mention medical coverage while working and in retirement, paid holidays while working, paid vacations and so on.

  • @pelonete5000
    @pelonete5000 Рік тому +2

    We are in the first quarter of the 21 century and you cannot have a decent sound on your computer to interview this giant?????!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  • @marcwhite6267
    @marcwhite6267 Рік тому +1

    There's also a superb book written by Kenneth Rogoff and Carmen Reinhartt, "This Time Is Different".

  • @rnegoro1
    @rnegoro1 Рік тому +1

    You should do something about the scam bots.

  • @michaeljanewhite5467
    @michaeljanewhite5467 Рік тому

    Thank God somebody mentioned and addressed the 500 yr. cycle.

  • @nickdolezal
    @nickdolezal Рік тому

    Loved your interpretation of Rach 3. Oh wait, that was Sokolov.

  • @motwoc
    @motwoc Рік тому +6

    Listen at 2x speed, thank me later

  • @11chancer
    @11chancer Рік тому

    Remember the day before 9/11 when Rumsfeld said they didn't know where 3 trillion dollars went? It's a whole lot more than that and too bad we can't use that money openly and honestly.

  • @andrewhart6200
    @andrewhart6200 Рік тому

    Workers do need a fair wage that is realistic for the circumstances we live with....rental rates/grocery stores etc...

  • @c.p.1090
    @c.p.1090 Рік тому +2

    Can you all doing a series on Austrian Economics and Bitcoin. Authors like Jeff Booth. BALAJI. Boyapati. Safeuddin Ammous. ANTONOPOULOUS.

  • @Steve-yz9uo
    @Steve-yz9uo Рік тому

    The sound is terrible guys. I dunno what Carol is saying

  • @KcZyro
    @KcZyro 6 місяців тому +4

    Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

    • @KbcFoundation-un3re
      @KbcFoundation-un3re 6 місяців тому

      People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

    • @OkehAgathaOluchi
      @OkehAgathaOluchi 6 місяців тому

      Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

    • @IsabellaLisa-vz3jz
      @IsabellaLisa-vz3jz 6 місяців тому

      How can i get started when it comes to investing and passive income?

    • @KbcFoundation-un3re
      @KbcFoundation-un3re 6 місяців тому +1

      *Whitney Kay Stacy* you can read up on her, she's quite known and her works speaks for itself.

    • @IsabellaLisa-vz3jz
      @IsabellaLisa-vz3jz 6 місяців тому

      @@KbcFoundation-un3re Thank you so much

  • @rebeccavoodoo2191
    @rebeccavoodoo2191 Рік тому

    Remember this: On September 30, 1987 - near the end of the Reagan Administration - total federal debt stood at $2.3 trillion. Our federal government took 200 years to incur $2.3 trillion dollars worth of debt. Now it’s 34 trillion ..paper stocks priced in U.S. dollars …which means technical fault = worthless stocks

  • @brunoheggli2888
    @brunoheggli2888 Рік тому

    If they talking about taking the pain,they mean the poor and the middleclasse has to take the pain,never the rich!

  • @jimjackson4256
    @jimjackson4256 Рік тому

    It sounds as if it is the US govt vs compound interest .Who will win? I’m going with compound interest.

  • @ksriram1978
    @ksriram1978 Рік тому +2

    Poor audio quality on Kiril Sokoloff's side!

  • @issenvan1050
    @issenvan1050 Рік тому

    Doesn’t gold do well during recessions?

  • @franztippner7933
    @franztippner7933 Рік тому +1

    It is such a great interview. But it's a shame, that Kiril doesn't pronounce properly and doesn't seem to know to use his microphone properly. I neerly couldn't understand a word of what he mumbled somewhere but not in to his micro. That could have even been repaired by using some software. But he didn't. May be my speakers are not the best. But 95% of the people I can understand much much better.

  • @mahirhaque1801
    @mahirhaque1801 Рік тому

    A gift

  • @johnnymartinARTIST
    @johnnymartinARTIST 27 днів тому

    right the sound blows!

  • @ToneGuruLA
    @ToneGuruLA Рік тому

    Is there some law that says smart wealthy men are not allowed to have good audio? Gentlemen, please consider hiring an audio engineer. If you cannot find one, please feel free to contact me. PS. Great show, and great insight. Thank you.

  • @bsweeney29
    @bsweeney29 Рік тому +1

    Great convo. Get taller books and a better mic

  • @jakelamotta7904
    @jakelamotta7904 Місяць тому

    What is Al?

  • @alanrobinson1319
    @alanrobinson1319 Рік тому

    Kiril needs to speak up. I can't hear the questions

  • @vincentl22
    @vincentl22 Рік тому +1

    Get your sound together next time pls

  • @bigmoose143
    @bigmoose143 Рік тому +27

    Someone please tell Kiril that we are not here to listen to his forecasts, we are here to listen to Stan’s forecasts😂

  • @MoonBull13
    @MoonBull13 Рік тому

    Id love to know what books stanley has behind him

  • @JY88168
    @JY88168 Рік тому +1

    The interviewer speaks so softly that you can barely hear what he's saying....audio quality is poor!

  • @chineseforextraderjay5352
    @chineseforextraderjay5352 Рік тому

    35:20 - A follow up question to Drukenmiller's response regarding the outlook on entitlements + interest expense (being 100% GDP in 2040, and 117% in 2052) might be:
    Can you see a way the US economy might grow into the unfunded liabilities through a surge in productivity, for example from AI and self-driving vehicle production? In the last 300 years, global expansion has come from the Industrial Revolution in the West (1800s), industrialization of the largest population in the world (China in post 1980s), and then the internet/computing revolution. Could the next wave of expansion be from the AI revolution, and what should be the government's role be in allocating this wealth creation between the new Haves and Have Nots?

  • @ScalperSpecltr
    @ScalperSpecltr Рік тому

    Sound f sucks((( couldn’t u guys make sound quality better!?!???

  • @Raymondcraw1967RaymondCrawley
    @Raymondcraw1967RaymondCrawley 6 місяців тому +7

    The S&P 500 moved 8.9% higher last Month, achieving one of its best monthly performances in history.. which is an indicator for profits to continue to improve. I just want my money to keep outgrowing the inflation rate. I'm still looking for companies to make additions to my $500K portfolio, to boost performance. Here for ideas...

    • @VanessaWilliams-pu8vt
      @VanessaWilliams-pu8vt 6 місяців тому

      I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective consider financial advisory for informed buying and selling decisions.

    • @BrewerVera
      @BrewerVera 6 місяців тому

      A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

    • @AndersonFair-cy2bb
      @AndersonFair-cy2bb 6 місяців тому

      Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I'm in dire need for one.

    • @BrewerVera
      @BrewerVera 6 місяців тому +3

      *Whitney Kay Stacy* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

    • @AndersonFair-cy2bb
      @AndersonFair-cy2bb 6 місяців тому

      Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

  • @sean58271
    @sean58271 Рік тому +1

    The sound quality in this video is atrocious. Druck deserves better.

  • @MaxMustermann-yj1wz
    @MaxMustermann-yj1wz Рік тому +6

    Can barely understand the left guy

  • @keithconn5739
    @keithconn5739 Рік тому

    We do have checks on us. They are called the congress, senate, constitution. If not any of these then maybe just morals?

  • @Marley78lm
    @Marley78lm Рік тому

    Great interview. However, I think he is wrong about MBS. I think MBS has done some damage beyond repair.

  • @issenvan1050
    @issenvan1050 Рік тому

    How about RRP?

  • @issenvan1050
    @issenvan1050 Рік тому

    2-3 years ago Stan spoke against buying equities & missed a 40% run up. Why?..

  • @jefffoster8399
    @jefffoster8399 Рік тому

    Interviewers sound was horrible

  • @noelio67
    @noelio67 Рік тому

    RFK Jr 2024 🇺🇸 🇺🇲

  • @AH-gt4eq
    @AH-gt4eq Рік тому +3

    No free lunch, time to pay the bill!

    • @AH-gt4eq
      @AH-gt4eq Рік тому

      Luv listening to such wisdom.

  • @TheTommyd93
    @TheTommyd93 Рік тому +1

    Sound soo bad could not watch. Why would you not buy a $60 microphone or use your AirPods.

  • @2hug
    @2hug Рік тому +1

    Grandpa on the left is really difficult to understand, but overall great conversation.

  • @mikeherrera5302
    @mikeherrera5302 Рік тому

    Hosts audio is tough.

    • @mikeherrera5302
      @mikeherrera5302 Рік тому

      Rookie stuff. U got a great guest. Get a sound guy

  • @SASOak2503
    @SASOak2503 Рік тому

    I wonder if Stan still feels we are headed for a hard landing? Clearly the market thinks otherwise, as many stocks, esp large cap, are near all time high.