Tom Gardner

But obviously, some people get into trouble in sports betting.

You just have to put that warning out there that it's not a way to build your financial future.

So we want to move speculation offline.

you know, the menu right now.

There are times to go for it.

This is not one of those times.

It's clear that we're at richer valuations in the market today.

And that means we should be taking a pause and making sure that we're ready should the market decline.

There are a number of factors to look at when we look at the stock market's valuation today.

It's worth taking some time.

It doesn't have to drive actions in your portfolio.

I mean, I guess the first thing every investor should answer is, do you think things can go too far in markets?

And if you do, if you do think that's possible, if you look back in history and see major run and major collapse,

you probably want to start to study what are the dynamics?

What are the patterns?

What are some of the factors that I could look at to determine where we are in the market cycle?

Let's start with a light one.

We have a relatively low VIX.

That's a measure of the volatility of the market.

It's relatively low.