Jose Najarro

And in case we're wrong, we're willing to forego that.

But we're not willing to risk the downside because the downside is where you, over the long term, is where you can't recover well.

And the reason for that, and I always like to say this, is because gains and losses are not symmetric.

And so say you invest $100,000 in any investment, in a particular stock or in the S&P 500, whatever you want to call it.

If you lose 50%, that brings you a hundred thousand dollars to $50,000.

Right.

And if that's a permanent loss and not just part of volatility of the market and your stock to get back to the a hundred thousand, you need now a hundred percent return.

Right.

And so it's much more difficult to recover from a big permanent loss than it is just to be having kind of more like steady returns, but not subjecting yourself to a big loss.

Right.

So part of it is that temperament that you need to have and not try to follow

the narrative.

And then again, going back to my first part of the response, part of it is knowing what value really is.

And you can't just stick back and stay in the insurance companies and the banking, bank companies.

I mean, you can play there and we're suddenly there to some extent, but you can't just avoid anything that's growthy just because the market seems frothy or overvalued at large.

Staying on that.

Sorry, go ahead.

I was going to go on a tangent, so it's better if you move on.

Go ahead.

Yeah, the short answer to the question I think is yes, but it wants more discussion and kind of