greg jensen who is a co-cio. it was hard and it was much harder than ray expected. this is the final and irreversible step in his succession plan. he is handing over voting were told -- voting control to the firm's founder and as he calls himself cio mentor. jon: the timing is interesting. kriti: bridgewater's track record, they are putting up some better numbers. talk about the timing of this analysis. >> this was baked in the cake in the early part of the year when it water its board to everybody and talk about changes in governance. what is a surprise as ray is giving up control and at a time that makes clients feel better. to your point, bridgewater's pure alpha strategy which is its flagship, find if you will, actually represented in more than a single fund. the strategy is up 35% year to date. that really helps to reverse some of bridgewater's awful performance in the pandemic when pure alpha lost 13% in 2020. meantime, arrival such as alan howard or chris roco's were having record years. it was a bitter pill to swallow for a bridgewater. this is a from that p