Stock market cycle

He's considering selling Cipher Digital.

Can we turn him round on that? Plus, we're both gonna take a look back at the S&P 500 over the last 10 market cycles.

Are we actually in a bear or a bull market right now?

Badge, where the hell are you, buddy?

The, I think you've nailed it, though, with the first part of your sentence there 'cause I don't think I do have much better places for my money.

Like, I am struggling to find reasonable valuation investments right now.

And maybe let me loop this back to right at the, the, the conversation we had at the top, right? 'Cause we talked about, um, like the concentration and, like, market cycles, and is, like, are we in a bull or a bear market? I don't actually know.

And in some ways, the way I try and force myself to think about this is maybe it doesn't matter.

But it does segue into cycles.

We've got something on about what we like and market cycles.

We don't have to spend too much time on it because we've talked about where we are in the equity cycle in America, also the Australian property cycle here.

I think the moral of the story is everything mean reverts.