Robert Blabey

And we've focused on things that are, again, writing to the downside, understanding what our sort of risk tolerances are has really benefited us.

And we've had some...

Very steady returns, I would say.

We've had some things, of course, that haven't worked out as we'd hoped.

But by far, a majority of what we've invested in has been successful.

And really, the best part, I would say, of our track record is that where we have...

emphasized the most of our capital has been also the most successful.

So it's not only where are you investing and did you pick the right company or the wrong business or the right equity or debt security, but also when you pick those opportunities

Have you sized them correctly?

Right.

And so so for us, that's a big element of the risk reward.

Right.

If you dip your toe in something and it doesn't work out, that's sort of fine.

But you go in in a big way and it doesn't work out.

That obviously hurts your performance a lot more.

I would say we are good at replicating an alternatives portfolio.

So, you know, if somebody has exposure and wants exposure, municipal bonds, for instance, we're not a good solution for that as a comp.

But yes, if you're looking, I would say, in the broad alternatives category.

Now, I should say that we're not doing venture oriented stuff.

we're not doing early stage, I don't know, real estate development where there's permitting risk and construction costs over on risk and material prices and things like that, that are difficult to underwrite.