In 2020 the markets dropped to their lowest level since the 2008 recession, but the recovery has been better than anyone anticipated. Between the rise in retail investors and over $2 trillion in a fiscal rescue package, stock markets skyrocketed—forcing even private equity to reevaluate their investment strategy. After such a historic rally, what happens next? Lower-than-expected job numbers and virus variants have some investors worried. With Fed bond purchases expected to slow and inflation expected to rise, will the return expectations between public and private equities continue to narrow? What influence will the influx of retail investors have, and how are institutional investors factoring it in? Where are the opportunities in public equities for the rest of the year and beyond?