Andy Cross

Financials are also not having a good start to the year just because of the interest rate concerns.

So

Yes, those parts of the market just aren't represented in the index.

So you're starting to see those fall off.

And of course, many fools out there, including myself, own a lot of technology stocks.

So as we see those technology stocks underperform, or there's the MAG7 or other parts of the tech stack underperform, that also weighs on some of that confidence and just wondering, hey, where do I have to try to find some alpha in this market?

Looking out over the next couple of years, do I need to raise some cash?

How do I start to position myself knowing that technology or thinking about technology is starting to shift a little bit and other parts of the market are looking a little bit more attractive considering some of the macro factors that we're seeing?

Now, I mentioned financials.

Financials have not done well this year, mostly because the interest rate environment where we are expecting rate cuts throughout pretty much the year.

If you look at a lot of the expectations and now the expectations are the rate cuts are not going to come.

If at all, they come later in the year.

You know, Lou and Travis, it's interesting.

The individual investor Lou mentioned about the, you know, kind of the buy the dip mentality.

Individual investors now represent a good chunk of the investing activity.

That's a lot different than it was five years ago.

We've seen them be kind of a lot, in a lot of ways, the buyer of last resort.

And institutional investors, a little bit more on the short term, panic, hit the button, jump out of positions.

So individual investor trade.

Yeah, and it's really elevated since COVID.