The Late Cycle of the Stock Market

The signals that it sends about, and I know I keep saying this, but they're clear as day to me that it's late cycle, right? If we were in the beginning of a new expansion driven by different things because we completely skirted recession, small caps would be doing better. And if we say that it really only started last spring, because that's when the Fed started hiking rates, we're not at a year and a half yet. The frustrating part and the tough part here is that late cycle can last a really long time. It maybe it could last two years. So again, you don't have to necessarily believe us. You can say you guys are just grasping