The Great Rotation Fascination

I've variously characterized 2021 as a year during which thematic swings and factor reversals became more norm than exception. In the interest of accuracy, I should note that there are a variety of ways to measure such things. My assessment is amenable to quantification and, by extension, you could theoretically conjure charts that suggest such reversals have been more frequent and/or more acute in the past. As ever, my point isn't to make definitive statements that admit of no caveats -- only