Robert Armstrong

companies that, you know, they can't get any price and they're not growing at all, but they're rallying this year because at least, you know, they'll be around.

Right.

I mean, you know, people are still going to use trash bags.

Exactly.

Yeah.

Yeah, it is exactly.

So there was a time, I mean, the narrative is,

of a year ago, even six months ago was tech is kind of everything.

Yeah.

And going with that narrative has worked brilliantly for investors, but all of a sudden people are interested in things like not just consumer staples, but energy industrials, you know, kind of a solid, steady businesses that have been neglected and now are, you know, they're not, none of them are very cheap, but they're cheaper than some of the growth stocks have been.

And they offer you more certainty.

I think, you know, international stocks continue to appeal for this same reason.

You know, you buy a European or UK index, you know, you're getting banks, industrials, miners, you know, basic stuff.

And I think you're exactly right.

There is a tremendous premium for predictability and certainty right now.

And that's a big part of this regime change.

Anytime.

Well, the first thing I would note is that the markets didn't move very much on this crazy plan of Trump's, this crazy saber rattling on Greenland.

So, you know, the S&P was down a couple of percent.

The dollar was a percent weaker or maybe a little more.