joining us, chris ailman happy friday. >> happy friday. good to see you, carl. >> sounds like you're more into rotation now than outright selling, getting into areas that allow you to protect against inflation. >> exactly we are actually under weight equity and global equity and we're going longer in inflation sensitive assets it's tough to hedge against inflation. like warren buffett said he didn't name a specific stock it's a basket of things to protect against inflation. but that's absolutely the biggest risk right now. >> so does that mean more runway ahead for i guess not just obvious high yielders but things that are commodity based >> i think so. i don't know that inflation will stay all the way up at 8 we'll cool off but inflation is going to stay well love the fed's target of 2% and stay probably in the 5 or higher range through the year. the job market is baffling to me, i think that's going to push wages, we'll see but supply chain, the fed can't fix that but they are going to raise rates, raise rates, raise rates. and people ne