Sam Watkins

And it's fascinating to me, not only because I am an alumni of Goldman, so there are some things I can directly relate to, but also it gives some really unique insights into what led up to the GFC and what happened during the GFC.

And it just might be that we're going to see some of those sorts of things repeat themselves in the next three to five year time horizon.

That's an ominous warning.

Alec, I kind of felt like I made you a little too comfortable.

Yeah, you did.

And I wanted to maybe turn up a little bit of the discomfort before I left you.

So perhaps that's the reason why I settled on that one.

I'm going to return to the quote that you mentioned before from Warren Buffett, which is, of course, that interest rates are to asset prices, roughly what gravity is to an apple.

I would encourage investors today to be reassessing their portfolio and the weighting that they have towards equities in that context before gravity sets in.