russell todd: thank you. damian: we do have some great video. tell us what you do with the young kids in the young eagles program. russell: well, the young eagles is a great program for kids between 8 and 17. they get introduced into aviation. we give them a half hour flight in a general aviation aircraft, and then we complete that with a five-step program that leads them on to becoming a pilot or any other area of aviation that they might be interested in. damian: you work with a hispanic group, a latino group called lulac, and a lot of young hispanic kids are-- russell: everybody. i haven't identified whether it's spanish or any other one. damian: a lot of us, myself for example, have a fear of getting in a small plane like that. what can you do to dispel that fear and say it's okay? russell: we're very sensitive. we have pilots that want to get kids introduced to aviation, so they're very sensitive to it. and in all my years of doing it, i've only had one person that really rejected the flight that we offered to them. they tried to talk her i

todd. i want to start off with one of 2000,charts, the russell the small caps moving below the hundred day moving average. i know you like large cap spirit this chart rather serves to highlight your point. if you are looking for somewhere to hide in all of this, where did you go? todd: i feel fortunate we moved to an overweight of large caps and underweight of large-cap -- small caps. the reason behind that move was in fact to lower volatility by going up towards mega-caps. when you get exposure to mega-caps, you not only naturally drift towards the large-cap cohort of the population with the lower standard deviation, you get the benefits of global diversification in a subset of u.s. names. corporations having foreign affiliates selling overseas, it gives them the option to bypass tariffs and operate locally in the market. mega-caps.y not all how selective do you have to be? todd: that is a great point. the key element i think in a mega-cap exposure is really to understand what you are doing to pull down volatility and what is the biases that go with that view? are pushed towards sectors s