schoenfeld is almost like a hedge fund.it's small, it's private, it doesn't really get on the radar screen of many regulatory bodies or the federal government especially the treasury or the fed. so it doesn't have these same issues with compensation and controversy over pay. >> now, any number, of course, wall street firm, as you said, have reined in risk although that varies according to the firm, a number of traders have left. hedge funds dealing with high water marks they haven't reached, not in a position to pay the compensation they did in the past. all of which is a way for me to ask you are these firms finding a lot more talent out there as a result of those two trends? >> right. it's really a buyers market for these boutiques, first new york, execution, jeffries are bringing their lots of employees from wall street's big firm, lehman, behr, goldman sachs. the big firms have either shed jobs are been acquired by larger banks and there need to be at lot of layoffs so there are lots of lots of ploem employees who are n