Dr. Alan O'Sullivan

Sebastian or Seb, I just want to really thank you.

This has been absolutely fantastic.

A masterclass in portfolio construction.

We will share links to the books.

If people want to follow you, Sebastian, follow your work, I know you're pretty active on LinkedIn.

Is that the best place to get you?

It really is portfolio construction because he has studied it deeply.

He has wrote academic papers as we got into.

He's a CFA, as I said.

So, I mean, the bottom line is this stuff isn't easy.

You know, trying to generate returns, trying to extract outperformance alpha from this market is going to be challenging.

So in an environment where equities have had enormous run up post the global financial crisis.

in an environment where bonds are operating in an inflationary environment.

Again, we talked about averages at the start of this, and that again, you know, nothing is the same.

Average is useful for maybe giving a ballpark, but

it doesn't tell you the truth.

Because, you know, we've had just different economic expansions, different terms.

We had the longest economic expansion was the end of the financial crisis, where, believe it or not, the S&P 500 was at 666.

That's a very infamous number, OK?

At the bottom of the...