are you hedging foreign-exchange into your international equity investment, brian levitt? brian: no, i'm not. [laughter] thanks for the tee up, tom. lisa: happy holidays. tom: it adds cost of the portfolio -- brian: it adds cost to the portfolio. you wouldn't want to hedge your foreign exposure. tom: the history of this, and he nailed that, as brian levitt does, hedging currencies against international equity portfolios is just about near impossible. know, and is good to brian approved of your answer. a carefullyart of balanced portfolio. lisa: it is a holiday miracle -- brian: it is a holiday miracle. [laughter] gina martin adams was on earlier, saying that it is kind that -- kinda miss of a myth that tesla is driving a lot of volatility in the s&p. brian: i think volatility is largely driven by what type of policy uncertainty we have or what type of insert he we have with regards to the covid cases. i wouldn't attribute it to one individual. this has been telegraphed. this has been well understood. it is going to become a large part of the s&p 500. volatility emerges and

brian levitt to join us in a moment.good to have gina martin adams on come on her wonderful courage through this pandemic to stay in the stock market. we have to digress because we haven't done this yet, and lisa said we've got to do tesla. gina martin adams on tesla and the s&p 500. an elon musk s&p 500 look like? gina: i think lisa is correct to suggest we need to talk about this because this is one of the underlying trends that has created the stall speed for the s&p 500 over the last day or so. tesla interesting about being added to the s&p 500 is probably more but it doesn't do to the index than what it does. there's this overwhelming fear out there that we are going to see volatility in the s&p 500 suddenly spiked because of the addition of tesla. well, tesla has been in the bloomberg large-cap index for the last several years. over the last year, the bloomberg large-cap index was simply the 500 top-ranked by market cap in the united states. the average daily price changes, otherwise known as volatility, is exactly