Hello,

The attached investment/economic article is one that I thought you might find interesting. The run-up of the market so far in ’23 has not had broad participation but instead has been mostly confined to 7 mega-cap companies (Amazon, Apple, Google, Meta, Microsoft, NVIDIA and Tesla). One item the article failed to mention is that many of these same companies were down well over -50% during periods of 2022. (Page 1 contains the main information, although the rest is a good read as well.)

-Jack