How do you assess that? And then try to chop off that left tail, I would imagine.

Well, I mean, I think I'm pretty... positive about the environment as far as where we are in the economy.

I mean, I think after the GFC and then especially Dodd-Frank, the banks have a lot more capital and a lot more liquidity than they did 2006.

And so I think we're We're 18 years away since the great financial crisis.

If you think we have a financial crisis every 20 years, it should be happening, right? And I think that's what makes the private credit talk right now scary because it's about the right timing.

I don't think we're going to have a systemic problem with private credit.

They run with a lot less leverage.

I was like,

As somebody who has ring fenced themselves to the financial sector, how do you keep your sanity in markets like this where people just don't really seem to be paying attention to your corner of the market?

I would say they were definitely paying attention to my quarter of the market in a negative way this week, right? The regional banks really sold off hard here and people are coming up with very interesting stories about credit deterioration.

So I think financial, I have developed this expertise in financials.

I worked at Fannie Mae, the mortgage company, doing interest rate risk analysis before I moved to the buy side and did equity research.

I just have this affinity and this historical personal experience of having worked at a big financial institution.

So I've been covering the sector for 25 years, kind of just have this expertise that I feel like I've been able to extract some value by running a long, short portfolio.

I haven't really ever been concerned about keeping up with tech.

Are you concerned at all about that