nicolai joins us for more.o a range of things, but the first two is to talk about tech and then commercial real estate. for tech, you said that the return assumptions are lower going forward from here. does it apply to the cohort from the u.s.? nicolai: we had a huge rally last year and a large proportion were from the top seven companies. right? if you adjust the s&p four that the return was something like 12% instead of 26%. you will have to ask how long that will go on for. i am a diehard believer in ai and the effect that it will have on our operations and the world, but in terms of valuations on other companies, that's a question. lisa: there is a question of how fragile it makes the market to have such a group of stocks driving us. jp morgan warned that there was a greater risk to the equity markets. the key takeaway is the extremel concentrated markets pose a risk to 2024, a very limited number of stocks responsible for the majority of gains. drawdowns on the other hand could pull equity markets down wit

for me you gave me as nicolai's gimme repeating here. if this change, if it's for the rest and such to think, i don't, i didn't go in and i left school luca samuel video done is double ups globally. but i sincerely sought facebook and i need to fix that. i need to send the hordes in most don't be informed or to send him 40 those the what is so the video from you is the what is, is thousands another for me i need the boulevard was the newest within the younger years now. so it's valid email hosts, did you find me a really nice, vicious love because of course, could you put me away, but i still have agree as now is that they're not that old, or is it to that over to itself? is that or is that i think about him, it doesn't always go 3, it is a so good notes, 56. is that what was interesting done with that'll restart the difference if it's, if they give them the source of white, you know, at the movie sources by the spices life, it becomes, it, it becomes the spice of life. so if you, if you lose that, you might like to marginalize that you

uh, yeah, for me you know, disney is nicolai's gimme repeating here for this purpose. choose different filters and such to think i don't, i didn't go into my last cool. let me see, mute video done is a double ups globally. but i shouldn't say this on facebook and i need to fix that . i need to send. ready the hordes in most don't be informed or to send him 40 those the what is so the video from you is the what is, is thousands. another for me i need boulevard was the newest. if was even younger, there's no such valid email hosts. could you find me a really nice, vicious love so there's a cost me to put me away, but i still have, agree as now is that they're not that old you to that overstate. so is that, or is that i think about him, it doesn't always go 3, it is a still good notes. 5. sure. that always interesting download that will really start gibson, if it's, if they give them the source of white, you know, like the movie sources by the spices life, it becomes, it, it becomes the spice of life. so if you, if you lose that, you might like marginalize that you lose,

and then the founder, nicolai's, which has to be what do you think happens to him? absolutely nothing. because after all, this is the man that there were looking into them for years and i had one point he left the country, then he returned. and what happened to him? absolutely nothing. now, who is this? my nikolai, we can of us can seen on the screen. he is a politician, the businessman, who was a one point minister of ecology phones, plenty 10 on so 2012 was also the deputy secretary for economic and social security of the national security and defense council. we can see there, he own several companies and what's so interesting about the rest of my as well, is the fact that he was a member of the government and they're not allowed to have businesses even though. so this was legal in itself. how was he allowed to be important them? it's not the same time on own and a business like that, that was quite lucrative and involved with money laundering that. so again, to top onto that, not as low a trustee. busy claimed that this is important to an f b i informant, that h

rooftops, i was just, i had a view of freedom detachment from the ground just a little more clarity nicolai's. as easement hooley also wants to start an apprenticeship, to finally learn a trade. no more odd jobs like before. so this stuff ok. now logistics, restaurant, work, waiter, logistics. dishwasher work in clubs, a cemetery gardener to scouts, not done. that's ent lose. now is use has to go up on the crane and prove that you can work a lot of good. i'm nervous, but in good spirits it's all secured because all this off is this of nicholas trice is handed welding the is miss. it's not that easy as you can see here because it's also relatively hot. okay, but it's interesting. i've never done it before. i was little for it on the left. as easy as back. no fear of heights. 30 meters in the air is no problem for him to didn't even need to hold onto the railing. he did a great job next. nicholas has to build a roof trust with a partner. this is where a team spirit is tested. like you're talking about and tell you that those 2 could definitely do something in the trades turn most eyes them on a

it so with, but i'm with the city of new, most nicolai's, kim city and we have the supply at the cost of celia without disabilities. and so the good i for you to really most so in the us go to we didn't get the deal like you get the do it for this is just to see if i wish the believes. now she got the key or could i see you? it's porch here. let's just do it more to chromatic again. let's see if a cer certainly knew it so so, so let me do it. oh, this is the yeah, this has been far better than me. thing we expected. yeah. exceeded our expectations that ever imagine you'd be dressed up like the rest of the spring. those easy to know what i need to do it is to ma'am, gives good faith of appeal, which is to store the the lordship motion to me. do i use the car i used to be, i mean you such as the, the one use the spanish. yeah. below 2 things we have frontier said was crazy cutting. so that's sort of a some of which us of what did you ask me if i see me at, at that moment? yeah, both christy was pretty distinguish when you said they appear for the students who will put you in. that would

uh, yeah, for me, you gave me as nicolai's competing here if this change, even for the rest and such to think i don't, i didn't go in and i left school. no, go seem your video done is double still going. but i shouldn't say this on facebook, and i need to fix that. i did send the hordes in most don't view form or to send him 40 those the what is so the video from you on the corner is, is thousands. another for me. i need a boulevard was a new list if was even younger, there's no such valid email hosts. could you find me a really nice, vicious love so there's a course, could you put me away? but i still haven't received any of these that they're not that over here to that oversee. and so is that or is that i think about him, it doesn't always go 3. it's just a still good notes. 56. is that what was interesting done with that already? if that's the difference, if it's, if they give them the source of white, you know, at the movie sources by the spice of life, it becomes, it, it becomes the spice of life. so if you, if you lose that, you might like some marginalize that you lose, you lo

uh yeah, for me you gave me as nicolai's gimme repeating here. if this should do it for the rest and such to think, i don't, i didn't go in and i left school. no, go see me. video done is double ups globally. but i shouldn't say lives on facebook and i need to fix that. i did send the hordes in most vulnerable to send him 40 those a which is so to visit in from you as a whole just is thousands. another families boulevard was the newest wisdom younger . there's no fuss valley mount hosts. could you find me a really nice bush as well? so there's a course, could you put me away but i still haven't received any of these that they're not that or is it to that overstated? so is that, or is it i think about him, it doesn't always go 3, it's just a so good note, 56. is that what was interesting done with that already? stuff, it gives them if it's, if they give them the source of white, you know, at the movie sources by the spices life, it becomes, it, it becomes the spice of life. so if you, if you lose that, you might like marginalize that you lose, you

i don't us the at the know will it so it's been, i'm with, with this evening unless nicolai's kim city and we have to put a slot at the close of celia without disabilities. and so the good i for you to really most in the us go to we didn't get the deal like you just get the do it for this is just to see if i wish the bill is nice yard. get the key or could i see you? it's torch here. let's just do it more chromatic again. let's see if they still show me notes. you'll show me your answer. oh, this is the thing. yeah. this has been far better than me. thing we expected. yeah, exceeded our expectations that ever imagine you'd be dressed up like the rest of the spring. those easy to know what i do to to do it to them gives good faith and we'll probably chance to store the the lordship motion to me. do i use the car i used to be, i mean you such as the b one, use the spanish. yeah. below 2 things we have frontier said was because according to that sort of fire, some of which us of what did you ask me if i see me? i don't have much. christie was, but he just worship me because they are peopl

so the, the owner of that comes in the upper, his mom, his name is nicolai's, which have ski. he was under investigation over money laundering, a tax evasion and corruption. so of course this did not look good for joe biden and he wanted this case gone. so he got the prosecutor fired and we know this because audio tapes happened lead by the c training and lawmakers that we just saw again. so he mixed those types of few years ago, and we heard the joe biden talking to the filter, put aside, go back in the day when he was the cranium prizes. and he said that if you get the prosecutor that is pursuing this case against for some of flyers, and we will give you loan guarantees, what's $1000000000.00? so this is exactly what happened. uh and then this led to another uh bribe. let's hear some more. mean. yeah, for me ukraine is not a territory, but it's people. and what do we see that today? no human rights might not to allow to leave the country. the question is that women might no longer be released today. ukraine is a constant try some cab that is moving towards the europe without

a 3—under par round of 69 was enough to win by one shot ahead of denmark�*s nicolai hojgaard at torreyat is special. i can�*t thank the pga tour enough, it gave us the opportunity to come from europe and compete here in america against the best players in the world, it has always been the dream for me and i got finally a shot and i took it. it�*s a dream come true and it�*s a little bit hard to believe. congratulations to him. and that�*s all the sport for now. thank you. protesters have hurled soup at the mona lisa painting in paris. the 16th century work — by leonardo da vinci — is protected by bulletproof glass, so is unlikely to have been damaged. the two eco—protesters are reported to have been demanding the right to "healthy and sustainable food", saying "our agricultural system is at risk". it is the latest attack on the masterpiece in the louvre museum, after an activist threw a cream pie at the painting in 2022. king charles has spent a second night in hospital in london, after undergoing a procedure for an enlarged prostate. he was visited on saturday by queen camilla — charl

a nicolai's ways of protesting i know, fighting against injustice. you know, when he was young and he was new to the political arena, if i can put it like that, he was also considered the radical. so there's nothing wrong with young people having extreme views and holding them with passion. and the thing is to take that passion, intellectual lies that make it work for you, make it useful, feel community, whether that's in a village, in a city, in a country, on the continent, in the world be useful, be productive. and i think that message is for all ages, it's not just for the, for international powers, we're fighting against apartheid regime on the same level. and the soviet union, for example, gave much help to the liberation movements of africa. why some western powers supported some unjust colonial powers in the continent. do you think the picture is still similar, or is it different? i think very often when we looked at global politics, the ones that you can never know is national interest. so it isn't your national interest to go to the left, yo

a three—under—par round of 69 was enough to win by one shot ahead of denmark's nicolai hojgaard at torrey sad breaking news coming into us from our team in breaking news coming into us from ourteam in thailand, and breaking news coming into us from our team in thailand, and that is that police at the thai beach resort of buti'll say a 33—year—old british man has died after his parachute failed to open during an attempt to jump failed to open during an attempt to jump from a building. according to the police they were called to a 29 story apartment block on saturday evening after eyewitnesses reported seeing a man fall to the ground after crashing through a tree and police say they found a blue parachute on the van which hadn't opened. the victim does make social media pages suggest he was an experienced parachutist. we will have more on that story when we get it. protesters have hurled soup at the mona lisa painting in paris. the 16th century work — by leonardo da vinci — is protected by bulletproof glass, so is unlikely to have been damaged. as you can see it doesn't look nice with the s

a 3—under par round of 69 was enough to win by one shot ahead of denmark's nicolai hojgaard at torreyit feels like there is another round to play tomorrow because we are only saturday. that is special. i can thank the pga tour. it gave us the opportunity to come from europe and compete here in america against the best players in the world, it has always been the dream for me and i got finally a shot and i took it. it is a dream come true and it's a little bit hard to believe. you can follow the _ little bit hard to believe. you can follow the tennis, _ little bit hard to believe. you can follow the tennis, cricket - little bit hard to believe. you can follow the tennis, cricket and - little bit hard to believe. you canj follow the tennis, cricket and the football the bbc sport website but thatis football the bbc sport website but that is the sport for now. thank you. germany's chancellor olaf scholz says he's concerned about the rise of right wing extremists and has called on people to fight racism and anti—semitism, as the country marks holocaust memorial day. thousands marched in du

so the, the owner of that comes in the upper, his mom, his name is nicolai's, which have ski. he was under investigation over money laundering, a tax evasion and corruption. so of course this did not look good for joe biden and he won't in this case gone. so he got the prosecutor fired and we know this because audio tapes have been leased by this the training and lawmakers that we just saw again. so he mix those types of few years ago, and we heard the joe biden talking to the filter, put aside, go back in the day when he was the cranium prices. and he said that if you get the prosecutor that is pursuing this case against for some of flyers, and we will give you loan guarantees, what's $1000000000.00? so this is exactly what happened. uh and then this led to another uh bribe. let's hear some more. i mean, the familiar green is not a territory, but it's people. and what do we see that today? no human rights, minolta allowed to leave the country. the question is that women might no longer be released today. ukraine is a constant try some time, but it's moving towards europe with

limited a while to get go in the one in the bottom school, the opened up before the break bar rank of nicolai's. in the 2nd half, the 2 goals are from paris. sasha, mom in the field at lee king in secured a $31.00 victory also in group e, malaysia face jordan later. but before that it's indonesia against iraq, which is there is the bach. i mess up with a rocky strike alley out comedy in london before he flew out. so the tournament is a raising storm on many levels. reading firms with english side wimbledon, a, f, c. and so representing a rough 21 year old. so it is johnny's taking him from refugee the top ranks as well for the prison by the mission to one day place in english. and really it's just not like any of a profession applies at all. so by far the way some plus when failure to get to the highest level football, now it's such a of the such quality at the top level that you need to just try to be able to do every fun pulling the rock l, how many was forced to flee the country with his mother was a young child. his father had been in jail for opposing saddam hussein. they settled in livabl