So I guess that's part of what's informing this, right? You're probably getting that kind of feedback from your clients as well.

They wanna be involved, but they are scared, are we late to the party? Interestingly, those tech PE multiples have actually experienced one of their largest corrections over the last decade.

So software stocks, you saw them come down.

And then on a forward basis, it's actually not that expensive.

It's slightly above its average.

The forward PE, I think, is around 27 times, and that is because of this expected earnings growth coming through.

So the semiconductor stocks, all of those in there have these really high expected earnings growth.

No one knows, and that's the point, right? That's why these structured products exist, because the NASDAQ is an exciting place, but no one can be quite sure.