is fund is so big it's like trying to maneuver an oil tanker it can't be done quickly and with a gelati you know what she puts on the brakes it takes miles and miles and miles for that thing to come to a full stop so he can have a difference of opinion on where bombs are going but to extricate himself from multi hundred billions and trillion dollars worth of bonds is not something you can do overnight so he's trapped like so many other people the roach motel called the federal reserve bank and the other interesting thing is that he has this total return fund but he also has an e.t.f. which tracks i use several e.t.f. spin co has several e.t.f. tracking their other bond funds and you see that actually those investors are so-called investors are have much weaker hands they're much more frightened off by any movements because three quarters of the company's popular exchange traded funds have experienced outflows during june with two of them losing nearly forty percent of their holdings according to data from lipper yeah well they're slipping out of the bond funds but he writes nice letters