The Risks of Overvaluing Big Cap Tech

Stuart: How do you sort of judge the risks reward at this point, even if you believe the tech trade is going to continue and have a little bit of legs? I mean, the downside seems to be great if the Fed indicates that, you know, You know, the cyclical trade is on. Stuart: How about the parts of the market that would really actually be most on pressure if we are in a recession? I think you can make an argument that megacap tech could be defensive, discretionary, consumer discretionary,. Some places where you've had people like a Nike or Lulu Lemon, where there's been such,you know, an extraordinary selloff.