there will be people who heard that and thought, what on earth is ben laidler talking about? can you explain that? ben: we have an index of investor sentiment. we look at the vicks. we look at fund flows, which i just talked about. we look at the retail investment sentiment, which i also just talked about. you put all that together and it is a sort of proxy, almost a contrarian buy levels. the vicks is still above average -- the vix is still above average. retail investors are still pretty bearish. we use this as a controlling signal. it is not even close to average. this just tells me this has been a big pain trade for a lot of people. first of all, we thought it was a sort of bear market rally, and we were going to retest our lows . the market just sort of grind higher. i think there's a number of reason this market is very well supported. whether that is bond yields at zero and there is no alternative, threw two stimulus, new cases coming out, i think the fact that this market has just been grinding higher and investors have been sitting on the sidelines, have quite a lot o