I have some doubts trying to understand the "shielding" property of a cascode device.
I understand that a cascode provides a higher output resistance which can help to increase gain. However, in several books it is mentioned that it has a shielding property whereby the input device is protected from voltage changes at the output.
I couldn't find a good explanation for this. How exactly does M2 shield M1 in the circuit below?
Surely, the change at the output voltage is due to a change at Vin which is translated to a small-signal current change. The voltage at the drain of M1 is surely going to change based on the resistance to AC ground at that point (ro1 parallel with 1/gm2). So, how is the cascode device M2 protecting M1?