The benefit of hindsight

Consider the chart below and imagine reviewing it five years from now. Wouldn't it appear evident that this was an opportune moment to diversify your portfolio and reduce the concentration of megacap technology stocks, especially given their valuations at the time? We firmly believe that defensive stocks and cyclicals are undervalued in the current stock market, and their economic contributions are significantly underrepresented. This scenario presents a compelling case for seeking out undervalued companies with strong earnings potential that lie beyond the well-trodden paths.