Does it always make sense to think of a 20% decline in your portfolio as a loss? 🤨

Plus a charted review of the macro crosscurrents 🔀

📉 The stock market declined last week, with the S&P 500 shedding 0.02% to close at 5,967.84. It’s now down 2.9% from its February 19 closing high of 6,144.15 and up 66.8% from its October 12, 2022, closing low of 3,577.03. For more on how the market moves, read: Stocks usually look past geopolitical events, but they shouldn't be ignored 🫣

-

For us long-…