we have eric friedman. eric, these final hour of each day of trade is just incredible.lines driving the actual price action. you as a spy with this much in assets. tells where you you are each day ready to flip on your computer, what you're going to do. >> never ending cycle, thank to people like do, we have great coverage, what is going on around us. i would say our perspective near term little more defensive and balanced in your portfolio outlook. the reason you do that, federal reserve. that is a data point yet to be fully digested. we got good information today with respect to the minutes. that leads to us believe there is probably more communication between now and march 15th which is when the fed will meet for its really next big meeting. bottom line we would be a little more defensive. the way we're expressing those views through both utilities as well as energy. so we think that those are two places where will benefit from some cash flow but also even if ukraine and russia, hopefully those tensions will simmer, we think there is a opportunity for oil prices to h

bank wealth management cio eric friedman and trader teddy weisberg. eric, i'll begin with you.s chief investment officer, what is your biggest worry right now, and what are you hearing from your clients? >> i'd say our biggest worry is just how sticky oil prices remain, and that's something that does feed into the broader conversation of the federal reserve. our concern is the federal reserve will tighten too much and that they will be overly aggressive into what we think will be probably a slowing economy the next couple of months. so the risk is that we have a couple more months of what's called hot inflation reports really guided by how sticky energy prices, that actually gives the fed some cover to keep on that tightening narrative. so we do think that while ukraine is a significant consideration both from a human but also a market perspective, really the bigger issue for markets is what the fed might do when they have liquidity coming out of the system as they tighten rates. that's what we're focused on right now. liz: eric, when i got in this morning, i looked at all of m