kay will in washington, let's bring in dan suzuki. thanks for being with us. >> thanks for having me. >> you and your firm have been cautious of these markets. how painful is this to have big cap tech like we saw today just keep going, keep flying when your emphasis right now is on sort of the value areas of the market >> well, what's interesting, melissa is that we were cautious going through the year and that position served our portfolios well since april we've been doing is gradually adding back. we've been participating but have been to your point doing it with the absence of the big tech names. we think that we're not the type of company that's going to chase crowded expensive names and so i think those names are getting more crowded and more expensive and, you know, when i look forward on the potential way that this recovery could go, one of two things is going to happen you don't have to be a genius to think that either get more stimulus and that this recovery will continue in which case you want to own cyclicals. tech we foun

tom: dan suzuki there, very good with the mathematics. thrilled to see him making comments as well.this up, sarah hall's halzack with us of bloomberg intelligence. francine lacqua, very active in the london fashion scene. what was it like just before the pandemic to see the lastgasp of luxury fashion? francine: when you say very active on the fashion scene, it is basically very actively trying to get an interview with the burberry chief executive. that is not quite come through yet, but we persist, so we go to the catwalks and try to get a bit of time with him to understand some of the nuances behind these luxury numbers. it was in february. it was interesting because it was in the west end, and at the time one of the first really big shows because burberry, because it is a listed company, puts on a pretty big show, but is also a money spinning. it was also one of the first one or chinese buyers weren't there because covid-19 was really rampant in wuhan. the big question amongst the financial analysts at the catwalk was what are we going to do without the chinese buyers. then you fa