peter krause, the chairman and ceo of aperture investors, basically saying that there is still the worstme. he spoke earlier with sonali bostic. happening right now in terms of investors being able to differentiate themselves, companies are challenged in terms of estimating what their earnings will be. 20 or sonished reading companies releases. they pulled all their guidance. two, they are not able to estimate the length of the crisis and impact on their sales, revenues, or expenses. now it will take very thoughtful, deep analysis to actually understand which companies will survive and will survive both intact and with financial strains coming out of this market. that is an opportunity for humans to identify. very difficult for quantitative programs to do that. environmentt is an that humans who have very strong analytical skills and detailed research capabilities can differentiate themselves and produce outsized returns for clients. passive, with all this volatility, extreme volatility, what are we learning about the passive industry in the face of a crisis. the passivenk industry itsel

peter krause, aperture investors.welcome any of your market signals and any of the stuff we can talk about, but you haven't gone back and gotten a ph.d. in molecular biology recently, have you? that's what we need. isn't that what we need to -- >> that and epidemiology, i think. i don't have my medical degree nor do i have my physics or engineering degrees. >> you look like you might with that beard and everything else if you walked into a classroom, people would go, yeah, this guy looks like he knows something. >> looking very beardy the beard is coming in very white i must admit i don't know how you feel about it, joe? >> i can help you. no, i can't. what does still hold true considering -- look at yesterday. markets up sharply and then you get some evidence we don't even know how relevant it was from china about a drug, recommemdesr from gilead and the market sells off. what market signals are worth while using when it's all about the virus? >> look, i think you're right. the market is still driven by virus headlin