Tim Barrett

Well, we're doing it because we think private credit is starting to get long in the tooth.

We're a little worried about the economy.

We'd rather have more defensive posture right now.

So we'll put in that hedge fund.

That might be the discussion that day, right?

And I just think it allows a better total portfolio management approach.

I was just describing the team portion only, but you're absolutely right in the manager side, right?

Like we have exposure to OrbaMed.

They're our healthcare specialist.

They're phenomenal at what they do.

We have them in venture.

We have them in credit.

And that's all they do for a living.

We think you need that exposure, but I don't need somebody on my team that's a specialist in that exposure.

The biggest thing for me, and this is probably, unfortunately for me, it probably occurred in the last 10 years of my career.

I didn't pick up on this early.

Was I always believed early that investment skillset was, you know, are you a CFA?

Did you go to a good school?

Where did you work?

What'd you do?