i want to get to larry shover. tom just busted a move with that. what gray swans do you anticipate, if any? because we might not, right? i know you've been bullish, but you always have a cautious thread running through that. where should we be investing right now in. >> yeah. i think it's the old playbook. i mean, back in april we were in that reflation mode, and now it's back to the low growth, i think core pce kind of justified that. so for me, i'm back into stocks, the maybook from ten years ago staples like procter & gamble, apple, you know, you have to have apple in your portfolio and then luxury stocks like raul lauren. i think -- ralph lauren. i think that makes sense in a low growth, low inflation environment. yields were 50 basins points higher back in april, but the delta variant has to find a way and a trajectory. let's face it, with the fed they're talking about tapering, there's less easing on the horizon, tightening is something that's coming down the pike. and with the divergence in us, the ecb, bank of japan, i think that's where we