Back to the top question that we asked today. Are we all clear? I think we’re close enough to what Josh said. And I think what you said, too, was we turned a corner here. And the way I like to look at it is as I was referencing the money in the money market funds, I call it the 5% free lunch.
There’s no such thing as a free lunch. I think that money’s going to come out of here. And I use the metaphor of a frog in boiling water and turning the heat up the market. We’ve had this thrust higher in the market. I think that’s the closest you get to an all clear. And we’re going to continue to find, I think, incremental gains here.
And it’s going to be slower and slower. The bears will slowly capitulate and more and more money will slowly start to come off the sidelines. And I think at some point you going to see a big rush in and everybody’s recapitulate order to be at record highs. The nice thing I like right here that also serves to point to all clear is the VIX is down 40% from the highs.
It’s down 20% month to date. And the institutions that actually move the market, they could actually put up more leverage now with with lower volatility. And they’re going to tell you to grind this thing higher. I mean, if the risk is that, you know, the market has made the mistake of being too dovish before—
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