Yeah.

I've got to just take a minute to have a little rant on this match, a little bit.

So you and I met many, many years ago.

in a WWE chat room as everyone knows we did for the first episode we were but we were also on the message boards back then that AOL used to have and this match was treated like a meme by some other people on that board because they were into all the Japanese wrestling and the five stars in the Tokyo Dome which is fine Which is fine, but that was it to them.

That was the only thing that could be good.

And they took the piss out of this match endlessly because of things like, oh, HBK's doing his little nip-ups and all this.

Listen, sometimes you've just got to fucking subscribe to theatre, guys.

Wow.

I mean- I guess we're part of that during this podcast a little bit, but I'm just wondering how much more difficult has that become in this day and age as opposed to perhaps when you first started your career?

If I go back to when I first started 30 years ago, I needed to wait until an hour or so after when the market closed to see how my portfolio had performed that day.

It doesn't seem like that long to wait, but compared to now where I have a second by second update of every portfolio at AGF and really anywhere else that I want to compare and contrast this with, that's such a different dynamic having that immediate feedback of, you know, it.

10.15, I'm outperforming by seven basis points today.

At 10.45, oh no, now I'm behind by 12 basis points.

What happened? The end of the day, you might end up up 50 base points or down 50 base points, but you've got this roller coaster within the day that you now have visibility that you didn't when I started in the industry 30 years ago, which doesn't seem like that long ago, but it was a different day and age.

And I do think that that is... also reflected in the daily news cycle that you're talking about.

But maybe you can sort of describe that, and it's in the guise of earnings growth being really the real driver here, right? Yeah.

Do you think this is the worst we're going to get in terms of some of that tariff impact here? I mean, what happens if it doesn't actually translate in a meaningful way in the inflation data?

I think that's a key question, Morgan.

Thanks for the opportunity to chat with you.

Look, inflation and concerns about the impact of tariffs on inflation has been and continues to be a key issue in the market.

I think as we've seen as we've gone through the second quarter earnings season, which, as you mentioned, has been a strong one, we've seen that, by and large, companies are doing a very good job navigating this ever-changing tariff landscape.

And let's be honest, this is what corporate executives are paid to do.

They're paid to navigate through turbulent times.

OK, so what do you buy here? Name some names for me.

And maybe it's not, and we already just lived through it.

I mean, I agree with you completely, Kelly.

We certainly lived through a bit of a bond market panic from the early days of April to late April.

But it subsequently has calmed down.

But there's still some challenges to get in front of that we have to navigate in front of us.

We're still waiting to see what kind of inflation uptick may happen as a consequence.

tariffs- there's still although much much lower.

But what gives you the confidence now that kind of the MAG7, some of these momentum type of names, AI trades and China would be the place to be?