Andy Cross

And technology is so much of a huge, big part of that part of the market.

And that's money starting to flow out of there as investors get a little bit worried about, oh gosh, how much of this AI spending in data centers is going to be recouped because of the value for those dollars looking down the road.

Where is the investor return going to be?

So you're starting to see this market shift.

And that is showing up in the overall indices and just some nervousness with the investor appetite going into 2026.

And the rain war is certainly not helping.

Yeah, energy makes up three to four percent maybe of the index right around there compared to, you know, technology and financials.

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.