julie: david schawel is still with us.fore you were saying to us that sometimes there is simply no place to hide and you have to get over that. but what if you are someone who is just about to retire or someone who is looking at their pension and going -- now i have a real problem and i don't perhaps have the time to adjust and take that much longer term view. at this stage, with cash and cash like instruments not looking as good as they once were, what would you do? correct. some people don't have the time horizon. people forget that a 50-50 stocks and bond portfolio in 2008 fell about 15%. people become accustomed to andt prices being stable going up, stocks being pretty gentle on the way up. they just have to know the downside they are dealing with. i think that if they can't handle that, they need to be in a different allocation. something we've talked about before is the duration and meworky crit fra. seeing what appears to be cheaper than the oths. looking at the market right now, does anything look dislocated to you