This marks the first time since inception that every position, and the portfolio has never had more positions, declined on the same day — a genuinely rare event for a 24-stock portfolio well-diversified across all 11 sectors. And while SPXEW’s –1.29% drop was hardly mild — that’s a legitimately rough day by any historical standard — it still wasn’t the kind of broad‑market capitulation one would normally associate with a complete sweep across every holding.
It’s infuriating — and in my view, unmistakably tied to the reckless geopolitical decisions made less than a month ago and still unfolding today.