The Fed Meeting Rates Have Perked Up Again

High multiple companies that have had an enormous run so they've they've rallied disproportionately and guess what's happened this week. We went from just like the headlines of mega cap tech and we got back to the reality is the consumer's not getting stronger last Friday's payroll number. Last year's losers for example outperformed by 25% versus last year's winners since 2001. It's a major sort of mean reversion trade I'm nervous about going forward.