wizman: i think it fascinating, tom. i'm glad we bring this up.nd to separate the emerging markets from the domestic markets -- from the developed markets all the time with regard to the capabilities of fiscal policy and monetarypolicy. we think the emerging markets are much more strained in their ability to reduce their economies through more spending and lower interest rates because we know that these are not structurally economies to understand the lisk to exposure or the inflation that might come about through more monetary easing. hat's not the case these days. latin america is responding to the current crisis the same way in regard to policy. in the same way that the developed markets are responding to policy. much more fiscal spending and much easier monetary policy. we seen in the case of latin america, a pretty radical expansion of their domestic central bank balance sheets. at the fed in the last few months. it's fascinating things have not blown up yet completely in the emerging markets. as a result of higher debt levels and very low in

thierry wizman from macquarie.g us, pimco's global credit cio, and just for lisa, the over 10ld can borrow years at less than 3%. looking forward to that conversation in about an hour. tom: let me revisit the dow right now. 28360 points and advancing thousand 39. 28 -- 28,039. , and the nasdaq does not participate. the nasdaq 100 is red. barry ritholtz joins us. always running for bloomberg opinion. awaiting a new book out before 2025. dow 28,003 i get the sense the american public is shellshocked in investment. what you do when you are shellshocked, whether it is november of 1987, september 1998, or where we are right now? first, you have a plan and you stick to the plan. this is not the sort of problem you can improv. leave that to the standup comedians. to try to figure out how to make changes on the fly in the midst of what is a confusing and emotional period. it is a recipe for disaster. have a plan and have the discipline to stay with the plan. tom: i want to talk about the biggest mistake i see of the crew w