Looking back at last week’s market activity – the market seemed to have rallied a bit at the beginning of the week, but it did not hold up. The S&P was down 2.5%, and the NASDAQ 100 was down at around 1%. Foreign stocks tracked with the S&P and were down around 2.5%. Bonds reversed their upward trend from last week and declined 2%. One of the overarching themes that have been weaving through our conversations over the past few weeks is how we’re thinking about the equity mix. Specifically, the difference and the appropriate proportions between the U.S. exposures and international exposures. Harold, Grant, and the Precedent team dive into this topic even further, beginning with a summary of what a portfolio of stocks is comprised of.