. >> let's stick with the tech ipo theme, sanldy.l ask you, what lesson from snap forrest of the companies going public after that strong runup to the high 20s back down to the ipo price of $17? >> let's keep in mind that snap was priced at a price 17 above the initial range of 14 to 16. so trading actually 18% bost original target price. i think when you have the high profile companies that there's a lot of speculation and excitement around them, they can be volatile. we saw that with facebook several years ago. and, of course that, turned out extremely well so funneldamentals are strong a snap and i think the initial performance and ipo ran up a bit, ran down. this is not uncommon for ipos. overall, tech strokz ocks are u from the offer today that is providing a lot for portfolio managers and a lot of excitement around the secretarior. one thing i note is that a little different than what rich talked about in the broader ipo market, in the tech market, 2014, '15, '16 were quiet years as people generally financed in those robust pri