bbva is one i'm particularly bullish on. >> bbva, a couple of others. is barclays up there?ing on the technology front. >> barclays, absolutely. they just appointed new ceo, michael hart, who came from a bank out of australia. he's a very clever guy. i expect barclays and bbva do some very interesting things in this space. >> michael, these are certainly different criteria than most bank investors are discussing when looking at the best opportunity in the space. do you like financials broadly or narrowly at all? >> we've been underweight financials in our beta rotation sector fund. as much as there's hoopla about the lending and increased profitability, all the lending in the world won't matter if treasuries are right about growth going forward given the flattening of the yield curve. all the easing of credit standards is not going to matter if junk debt spreads against corporate high-quality paper is going to widen, given this prolonged period of very tight spreads, tight yields. and all the profitability in the world is not going to matter if european banks are anticipatin