Michael Batnick

The other thing I was thinking, I'd love to hear your thoughts on this, Michael, is that when clients ask me, do you think the market's pricing in a slowdown?

See, like you're looking at it like, but I don't know.

I mean, discretionary stocks don't look great, right?

I mean, like that's what my, that's what Jeff has been telling me.

Like discretionary is underperforming consumer staples.

Equal weight.

Like, he's been pointing that out.

I mean, restaurants don't look good.

I mean, you can say that's all because of, like, people taking the fat shot.

I think that it's... I mean, it's not like their same-store sales are doing particularly well.

Or, you know, you mentioned healthcare.

I mean, that's not...

necessarily a cyclical sector, but, or, I mean, what about what's going on with like financials, right?

I mean, so when people's like, I don't, I mean, maybe the market is like, it's, you know, is, is the market pricing in some, some slowdown?

No.

So tell me why.

Superstar firms is probably another.

That's right.

What's that?

Just like firms that have really high margins.