the denomination effect that we saw because of the hiccups in the system with banking crisis and with ldi, that put a premium back into -- into liquidity. the liquidity risk, how do you manage these different economic cycles? and are you prepared or are you ready for a hedging, which means that, let's remember what that means. it means you are going to do well at times and at times you will not do well with the entirety of your portfolio. that's ok, that managing your portfolio for these different changing economic cycles or behaviors, is what you're supposed to be doing. francine: does it change how you lead man group? robin: it changes because of the way we lead the organization. we are an organization that is diverse, our capabilities are diverse. we have different engines doing different things, be it on the fundamental discretionary side. we have products that are in the macro space, products that are in equities, long earning, long short. but what we are seeing is, our clients are interested in more customized solutions. in solutions that answer the problem they've got or the challe