Carol Massar

Are you seeing that happen?

Are you hearing discussions of that?

You get 25 seconds now.

Yeah.

Well, you know, okay, now... Dan still had to do the reading, though.

It didn't read the report for him.

All right, let's get to the trade today.

This has demand for exchange traded products focused on European equities was so strong last year in 2025 that they attracted a decade in a year of inflows.

That's according to BlackRock's Ursula Marchionne, head of investment and portfolio solutions for EMEA at the world's largest asset manager.

She caught up interview with Bloomberg TV this morning over with our European colleagues.

Check it out.

Do you think that has to do with some of who are actually on your platform?

In other words, the demographics that I think, you know, I don't know.

Exactly.

It's so funny that you say that.

On Friday, I was at a big dinner and was talking with someone who has started a company, sold them, now investing their own money, and just talked about some of the big wealth managers who come to him and say, you should be buying the market and paying me a fee for doing that and so on and so forth.

And he's like, you know what?

I haven't bought the market.

I've actually doubled down on those big tech names and have outperformed the market, even though if you think about the last few years, people keep saying, oh, back off some of these.

It's time to diversify.