Higher bond yields make stocks feel expensive. Volatility vs bonds and absolute yield levels matter.

Well, you got to figure out what the risk-free rate is. And so generally, the higher bond yields, the more expensive stocks feel. Kind of like super lame in terms of it all, okay? Now, a lot of people are saying that rightly so. This has been going on for years. Basically, since the COVID bottom yields have been going vertical, along with stocks, along with, you know, Bitcoin. Most things have been going up for years now in general. I think what's important is two things. One, volatility relative to bonds. And two, just how high the levels are.