golie: i think you have to beyond knee-jerk reactions.airly -- we are not overly conservative. we think that it don't -- we think that it won't be a long-term event in terms of impacting gdp or inflation. overall, given that supply is going to outweigh demand, oil should come back down over the first half. i think you have to look at more than just the short-term, knee-jerk reaction, and really set up to where you are defensive, but not overly conservative. liz: i think i would answer this in two weighs. so far, this is an idiosyncratic event. i wouldn't caution any of our clients to do really anything about this yet. it could turn into a systemic event, but we would have to wait and see what happens as far as the next few weeks. as far as 2020 goes, we are still pretty optimistic, not in the sense that we are going to kick out another 30% rally for the year, but still optimistic that the market can put out a positive return, maybe even high single digits, and that's fine. but you do need to be positioned in some of those growth sectors a