Investors Can't Ignore Washington, Sonders Says

So we've had a 5% decline that ultimately got bought. Is that masking the amount of repricing we're seeing beneath the surface. It is, John, and there's a number of ways you can look at it.We've at this program talked about the average member drawdown level being much more significant than the drawdowns we've seen at the index level. So in the case of the S&P 500, you're right, we've only had about a 6% drawdown maximum year to date, but the average member has had a 16% average drawdown. If you look at the ...