Coleman Church

It's government.

It's ideology.

If you are of that mindset where you believe in control economy, it is the dream of all dreams to incorporate your ideological bent into the last thing that should be left alone, which is the free market.

you now inculcate all of this ideology into every decision-making process all the way down to setting the price of money, which to me, I know I'll run afoul of plenty of people on this, but to me, that's a bridge too far.

That's not the place for it.

But once in, it's impossible to get out.

Once you go into...

that's involved in all the investment processes, it's really hard to take it back out again.

In the short term, yes.

The question is, how quickly does the market rotate?

How do the rotation trade?

So we're starting to see that actually the last week or two, you're starting to see small caps really rally, Dow components really rally, old economy stuff really rally as tech is being soft.

So there's theoretically a way you can thread the needle there, but

But with the concentration risk and with the size of just actual size of these companies, it's going to be a drag on the overall market as a whole, best case scenario.

Absolutely.

And as...

He's an emerging markets guy who's been able to look into other countries, frontier markets, et cetera, and how they look at it.

If you're an Argentine or a Brazilian or a Turk, you're always looking outside of your domestic economy, domestic market for opportunities.

And we really don't too much.

Yeah, it crosses the line from, as you said, from investing to straight gambling.