now joined by patrick armstrong, chief investment officer.irst of all, the small business fund being passed by the senate in the u.s. and brent ever lower and don't know how you find a floor and the third one is a pretty good appetite from the new bonds from spain and italy. out of those three, what do you focus on the most? david: oil i've been fascinated with over the last three days. it's never thought of something like negative $30 a barrel. when i covered oil and gas companies back in 2000 it hit $11 briefly a barrel and that's when my basically canadien arm of deutsche bank closed down the shop because there was no future in oil and gas. to me it's fascinating from a personal perspective and really symptomatic what is happening in the economy that there's a real slowdown in demand everywhere. aggregate demand has fallen off the cliff and oil is ready to see that most marketedly where supply hasn't change and not fallen off the cliff but demand definitely has. francine: patrick, what does it mean for how we find a floor, how does this en