also steven desanctis.u, your firm recently downgraded to market weight from overweight in terms of energy stock. talk about it. >> it is a very humbling business where you have to learn every day from where you go wrong and you get the scorecard here. the upgrade in early march was the fact that we had a lot of interest in energy and the sector was down, double digits at that point. it felt like there was sentiment and it looked like our forecast , and thenwti obviously, it shifted dramatically. the sentiment was really bad. it is just one of those things where you just go to the sidelines. you have quite a bit of volatility as you go down. you are dependent on global macro factors that don't go into the fundamentals. you have to chart up the revision trend. it is all about sentiment and trying to figure out where people are lined up. just a little bit more challenging. it was just a lot easier to go to the sideline and go, i can do better in other groups. alix: small and mid-caps are getting hit harder. i