denomination effect that we saw because of the kind of hiccups in the system with the banking crisis, with ldi, that also put a premium back into liquidity. so, what is your duration risk? what is your liquidity risk? how do you manage through these different economic cycles? and are you prepared, or are you ready for hedging? which means that, you know, let's remember what that means. it means that at times you are going to do well, and at times you are not going to do well with the entirety of your portfolio. and that is ok. that actively managing your portfolio for these different changing economic cycles or behaviors is what you are supposed to be doing. francine: does it change how you lead man group? robyn: it changes because of the way that we position the organization. we are an organization that is diverse. our capabilities are diverse. we have different engines doing different things, be it on the quant side or on that fundamental discretionary side. we have products that are in the macro space, we have products in equities, we are long only, we are long/short, but we are seeing is c