joining me now is benjamin lau a member of the cnbc financial adviser 100 list we have featured, ben, a lot of you on the financial advisory side we want to know what clients are thinking about the current market and the outlook is. maybe the big first question is is this a market that makes you fearful or optimistic? >> right now, it is short-term we are cautious right now. you think the market is pricing too optimistic of the powell pivot. now is the time to shore up cash balances >> you mean solidify or build them get the dry powder, so to speak. where are you raking that money, that cash? what are you selling to raise the levels for down the line when a better opportunity arises >> so many of our clients take that money for living expenses they take the technology names and shore to cash and treasuries and investment grade bonds >> if that is the case, if it is treasury and bonds that you are raking money in, what does that mean before the cash gets redeployed again >> i'm looking for earnings to come down. we have not seen an earnings recession in the sa&p 500 that pe is high. th