story here >> you're right to for instance, we happen to be big fans of a fellow by the name of bryan jordanirst horizon. chronically undervalued. i'm looking at what you're doing and i say why aren't you 100 billion dollar out justice of the peace f-- outfit. it's the best there is >> i really appreciate that. we built this firm on the institutional side around our res research and i believe it's second to none i hear you the one thing is i know bryan jordan he's a great guy built a great bank he got a great price we got a ways to run here. we're going to continue to gain mark share i'll tell you that >> i'm a little worried. 2021, great year for ipos. this year looks tougher. do we have to worry? >> well, for the first quarter, look anyone can look at the deals and see that equity, almost any way you want to look at it, equity is down 75 to 80% in the first quarter you have renewed inflation you have the digitization of the world. people help move capital around will be busy a firm like that is stifel our advisory backlog has never been greater it's been volatile >> i'm so glad you came on