joining me now is jared woodard investment and etf strategist at bank of america securities jared, it'sou here you've got your finger on the flows. and you're also a little cautious on stocks here. >> that's right. i'm glad to be with you because this is one of those years in which active asset allocation i think is more important than ever investors are really bullish on big parts of the market, but our contention is that this is a year of slowing economic growth, of gradually weakening economy, and that means we expect some parts of the bond market, especially the credit-sensitive sectors to outperform equities we think there are some great ways you can invest without taking on excess risk, without buying things that are already, you know, too expensive and if you do that you can achieve better returns than investors have had for a long time because in a world of structurally higher inflation and interest rates the old asset allocation playbooks don't work you saw this last year stocks down but long-term treasury bonds were down too down 30% a conventional 60-40 portfolio served inves