. >> that's why i need to start with him >> the only things that derail a bull market are rsvp, whichfor recession >> shocks. >> valuation >> valuation >> and policy. >> policy mistakes >> see >> i like that it's not a -- it's -- you did it in rsvp. valuations are not cheap, but not a 28 times earnings. the shock, it can happen at any time a recession is something that is possible, but not likely >> eventually we'll have another recession, but we don't think and the consensus isn't that it's going to be any time real soon of course, we'll be looking at the gdp report today, and some of the data has been mixed recently we had that bad retail sales number so far most of us think that the economy is going to continue to grow at a slower pace, granted, and -- i don't think there's a recession on the horizon, and that will be the next big market event. >> and i also -- we've talked recently you felt a little negative going into december, i think, is at least the way you explained it to me, and you bought december at the lows. you seem to be saying now the gains are in for 2019. you don't h