The big story of the past months has been the continued growth in valuation disparities across the different sectors of the financial market.
As an example, Tech (QQQ) stocks have seen their valuation expand dramatically, despite their recent sell-off. At the same time, a lot of REITs (VNQ), particularly those that own more cyclical assets, have seen their valuation drop to historically low levels.
As a result, you now have massive disparities in valuations across different sectors of the financial market. Many companies trade at 50x earnings while others trade at