What is the current state of the esoteric sector of the ABS market, and what is the potential impact of AI on the esoteric sector?

Yeah, it's, it's a great question and, you know, I've been asked this a few times, and one of my favorite things to say is, you know, "Hey, what, what a time to be alive." When I started as a, a first-year analyst in two thousand and two, you know, I had Excel and PowerPoint.

I had Microsoft Outlook, and very soon after I started, I got, you know, a little handheld device.

And really in, in twenty-plus years, we hadn't seen much in the way of technological advancement around, you know, sort of white-collar professional skills.

And so over the last year, it's incredible how, you know, in particular, you know, that the juniors on our team are using AI to be much, much more productive.

And that's filtering, you know, throughout, you know, obviously the entire economy.

And if you're thinking about it through the lens of, of, of securitization in particular, we're not the equity markets, so we're, we're not investing in the big names, uh, from an equity perspective and trying to ride those stock prices up, up, up.

Do you think any of the following are potential issues for the private credit space: valuation, transparency, underwriting standards, leverage, liquidity, or asset correlation?