-- ken moelis has decided now is the time to bring the firm public?having to suggest that yousitions will improve, are taking yourself public on the perception of enough doing, and that is the time one wants to do this type of thing. >> the last wave of ipo's was during the last merger boom, .reenhill, evercore >> 2006 for you. take us back to that time period . why did you decide to make that decision? expand awe wanted to lot faster than we had been, and in the intervening years we have. i think we thought and it has been proved correct, that the availability of a public currency would facilitate recruiting, and indeed it has. if you go to recruit someone quite senior people have large amounts of deferred compensation and equity in particular, and how do you address that? you have to eat come -- have to, in some form or another, replace that. you could use cash, but there are limits on that. number one, to help recruit, number 22 spread the firm -- number two two spread the firm's brand, and that has been our case, but it is not for everybody. everc