still with us this hour is our guest host, emily sanders.ceo of sanders financial management. she's joining us in london. richard, good morning to you. we'd like to start with you. you know, 40 years ago today, we put a couple of guys on the mon. what's it going to take to launch the markets out of their trading range? >> trading volumes are thin, even by the standards of summer months. it's been so damnably hard. we've got 143 companies from the s&p announcing this week. then markets will go higher. on the other hand, they could come in worse than expected and really what people are starting to look at is q3, q4 and next year. the big question is not whether you get a blip of profits, better than expected. the question is if growth is persistently lower, what are you going to have for equity multiples? >> even though they're better than expected, that's par for the course. i can't remember a quarter we didn't give 65% beating on the bottom line, because they can manage their costs. >> actually, compared with the start of the year, they're m