Bill Gross Says Stock Market Is Overvalued

The video discusses various investment strategies, focusing on positions in Activision and MLPs, highlighting their tax benefits and yields. It emphasizes the importance of cash flow in portfolios, especially for older investors, and critiques the current stock market valuation, noting a historically low equity risk premium.

What factors does the speaker consider when evaluating cash flow versus growth in their investment strategy?

What is the significance of the equity risk premium mentioned by the speaker?