What Do You Think About Today's Markets?

Valuations were historically high, both stocks and bonds late 2021. Right about now, what are we 25 year average for the S&P? International stocks look kind of cheap. Small cap and value are interesting. So there is a lot of nuance to today's market. It's not as though they're pricing in Armageddon or anything along those lines. And so I'm talking about really the nasty stuff here. But oftentimes, it's the fact that investors are a react, right?