morel means a little bit cheerful and outlook for the stock market as well. david: hopefully that is the case. great stuff. our asia cross assets managing editor. about thistalk more in terms of the set up for next .ear is our guest nice to see you. up for a nice 2020 or does the market seem a little bit over seated? thef you look at most of price momentum, they are suggesting that risk assets are valued too strongly in the past three or four months, so there could be a correction if there is disappointment in any front. the path for 2020 should be positive. extent as wee same got in 2019. david: in terms of your leaning, you are not fully risk in, but you are more constructive. qualify the nuance for us here. using the entire risk that we have in our budget. we are being more nuanced in the positions in those markets. we continue to like u.s. equity markets. the big difference is the fact that the market has the highest buybacks. being a bigbuybacks driver of equity returns in the u.s., using them to generate positive sentiment. positive in technology financials.