Previously languishing sectors like energy and financials now seem to be leading the charge as longtime leaders like technology show signs of weakness for the first time in years. Michael Gayed, author of the Lead-Lag Report and portfolio manager at ATAC, returns to explore this sector rotation phenomenon from two different perspectives. In this interview with editor Max Wiethe, Gayed will discuss sector rotation over the long-term through the lens of a more academic approach but also from the perspective of a portfolio manager looking more short-term at what is happening right now. Gayed authored an award-winning white paper on how VIX levels can be used to forecast sector rotation over long-term that can be found here: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3718824.