to -- but fundamentally, structurally, the market's in a great position. after recessions, markets tend very much to be what we call range bound. the determination of what the range will be is something that no one can really answer yet. fundamentally, we know that more institutional money managers have to put money in. second, look at our market in terms of the private equity market in m&a. there are going to be two other components that help to drive this market. >> a lot of deals you think, right? they have to compete. they have to grow some way but that's going to mean companies buying companies and m&a mergers and acquisitions are going to have to go out there and do some deals. so where is the hot money going, then, the hot money, the smart money? it's not necessarily going into the things that got us here right? we should be looking at other areas, then, for the next leg of this thing? >> of course, emerging markets are on fire and they have been. a lot of people aren't really sure as how they are going to go into merging markets. you can get exposure into those by going into multi-nationals