joe duran and joe quinlan. welcome to both of you. what are you doing with the money in the accounts that you manage? why. >> the first thing we're doing is making sure people's core allocations are in line. after market declines, or have a lot of different performance, you can be overweight or underweight a lot. we tell people, make sure you're allocated along the risk you can and should be taking. second is do nothing. you can almost never do well by making extreme moves when the markets are very volatile. your emotions are a dreadful gauge of how you should invest. we had a very anemic recovery for seven or eight years in the economy. if we slip into a recession, the odds are higher than they have been, it is probably not very pain. iny we're not going to. when you're at 1%, 1.5% gdp, it doesn't take a lot to go to minus 50 basis point. the russell is the canary in the coal mine. as long as the russell 2000, what you're seeing is more risk, cost of debt going up for smaller companies. credit spreads widening and economy slowing. ag