The only thing I would add to this would be how hungry the capital machine is for growth. Public equities are simply not outrunning the bear in a way that certa

The only thing I would add to this would be how hungry the capital machine is for growth. Public equities are simply not outrunning the bear in a way that certain well placed and timed companies are. And those companies command astronomically high market capitalizations because of growth. Not profit. Capital doesn't need profit right now. There is plenty to go around.