worked, honestly, since 2007. That's why IWM versus QQQ has gone down every single year, and it just continues to make new lows. Even though we had a rally and a broadening out in the early part of the year, we're back to the MAG-7 making new all-time highs. And the MAG-7 are gigantic. And the Russell 2000 names are in trouble because of AI. Not all of them. Some of them make the infrastructure side, as we saw early. But when rates went higher and oil went higher, these companies don't have a way to survive. So this is the world that we're in. And over here,
But when rates went higher and oil went higher, these companies don't have a way to survive.