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So, when you think about the investment strategy right now and the thesis around which companies should be buy, which companies should be held and which companies should be sold, I mean, what are the characteristics of how people can think about that? And are there specific ones, uh, in a buy, hold, sell with this cut implementation strategy, that's going to be a larger cycle? It's not just going to be one cut. Hey, that's it.

Yep, absolutely. And I think if, if you dive into a sector, right? Technology been extremely popular, has had phenomenal returns, right? Over the last couple of years. Um, so if you kind of narrow in, I like the more diversified approach. So, if you want to be in semis, I'd say don't go directly. So a cell might be, hey, uh, bide some time on Nvidia, right? That could have massive price appreciation, that could also have massive price depreciation. Um, if you're looking at a hold, strong cash positions, right? Choose somebody in the middle like a Microsoft, OpenAI, it's getting all these funding, you know, all these investments. Um, and even though it's kind of tied up in kind of the mag 7 and the S&P, um, still a great company. Uh, and then in terms of a buy, right? Go upstream. If you want to be in technology and semis, like an applied materials, right? Or Lam Research, pick ones that supply Intel, Nvidia, right? That helped to really build components in fabrication, um, because I think they'll be less in the limelight if things go bad.

How can you identify whether or not a company has run too far ahead of its own valuation?

That's the million dollar question, isn't it? Um, and that's where I, I think it's, it's balancing the optics and perspective of the market, right? I, I've personally seen a lot of REITs run up to astronomical valuations, right? To

On the prospect of rate cuts?

Well, and that, that's where it's funny. At first, it was kind of like, okay, they're just kind of going with the rest of the market, but then they kept going, going. We're talking 100, 200 times PEs that they, they really have never seen. And now, sure, is there a potential that their profits are doubling and tripling? Yeah. I would say, no, not to that extent. And, and that's where it's, it's interesting kind of where the S&P is at near all-time highs, right, right at this maybe apex of where things are going to happen, and it's buy the rumor, sell the news on the rate cut for some of these names.

Tony, always a pleasure to have you here in studio with us. Tony Zaparro, Equity Set CEO, joining us here on Yahoo Finance. Thanks, Tony.

Absolutely.