Jason Ware

And since then, we've had a lot of uncertainty because of the war, in particular because of the impact on energy prices, fertilizer costs, helium, you name it.

And so that...

position, that posture going into the year.

You talked about you and I got together on Christmas Eve and things felt a lot more jolly, to use a festive term.

And so everyone kind of came into 26 with this notion of like the economy's good, earnings are good.

The Fed's on our side.

We're going to get a more dovish Fed chair coming in.

What could possibly go wrong?

And well, of course, war in Iran is what

went wrong and we've experienced volatility since, but I will say it's interesting.

I mean, we're only two and a half percent off of the highs, right?

We've had a pretty strong snapback over the last few days.

And so, yeah, some volatility, but you know, it's not too bad.

I will say it feels like the rotation – and we talked about this at the end of December.

I feel like the rotation away from technology –

into other parts of the market, the broadening out, if you will.

It feels like it has more legs this time than it has in the past.

But I don't think that means that the Mag 7 or the Splendid 6, as I call them, because we don't own Tesla.

You know, you can have Broadcom.

We own Broadcom.