Lloyd Blankfein

Yep.

But that took some time because you didn't want to lose the people who do that.

Totally.

Now, one of the reasons why it was very important...

and apparently less important for other firms who don't have those big investing arms, is that we were able to approach our clients as partners and not just as supplicants trying to get good brokerage business.

So we, you know, we spoke the same language.

We were good, you know,

We did put our clients first.

We would forbear if our clients wanted to do something or we'd partner them and bring them in if we sourced opportunities that they wanted.

We'd work that out.

And it's not always easy to work that out.

But we were able to engage with our clients as peers and not merely as supplicants looking for business.

And so...

a little more swagger, a little more understanding of what our clients are going through because we're principals also.

We didn't want to lose that culture, which, by the way, is not evident in our peers.

And there are other reasons for that.

If you're going to be an investing business,

You know, it's a more volatile P&L.

And, you know, going back to the beginning of the conversation where people get, managers get confused between being wrong and being stupid.

At times when the people on the investing side made a lot of money, they wanted to fire the firm and go off and do their own thing.