On the year, global stocks suffered a 20% decline in 2022, the 2nd worst year since 1974, as central banks fought inflation in the face of supply chain shortages and an energy crisis due to the COVID-19 pandemic and Russia's invasion of Ukraine. Here in the United States, this has been the most aggressive U.S. Federal Reserve tightening cycles ever. To further this point, for many investors, the traditional balanced portfolio of 60% Stocks/40% bonds just had its worst performance since 1932 when the U.S. was still in the Great Depression. The only U.S. equity sector with gains in 2022 was Energy with all other sectors turning in a negative performance for 2022 with Technology and Consumer Discretionary extremely underperforming.