IWM

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ending. Uh IWM small caps up 2% this week. Part of the unwind, the deleveraging. Uh my thematic portfolio down 3.8%. Here is the SMH, guys. This is the drawdown from the peak. I want to re-emphasize where we are is down 22% from the peak. That's how much of a bear market it is, and guess what? This happens almost every single year. But especially when you're up as much as they are year-to-date. Okay, this is

Uh IWM small caps up 2% this week.

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