rotate to value, i don't buy that, but look what happened in the real estate -- you had simon by talmand all of a sudden the stock is up 100%, so people focus on hard assets, on cash flow, and that makes sense as we get later cycle. >> there's a viewpoint that stocks will keep going up, henry, until bond yields stop going down effectively when you look at '08, '12 and'sr '16 we had credit events. we had brek i had last week, and the bond market didn't move. do you see continued low yields, which makes risk assets more attractive no matter what is going on >> ultimately or view is we're in a low inflation environment i spend a lot of time in asia, or firm is kind of a dominant alternatives in asia, and we see a lot of disinflation. and you see that in india, china and other emerging asian tigers. excess capacity is being dumped on the market. you come back to the u.s. where it's closer to home. ultimately it has to be 50 basis points just to stand still, so bond yields are sniffing that out. ultimately our view is people will want to own more collateral, and so never say never. what woul