developed markets like the u.s., europe and japan. that's partially your answer. a bit of a safe haven as well but the dow is up 1.6% and london up 2.5 and nikkei and japan up by nearly 4%. interesting to have a look at this. if you talk to analysts, most are saying this will be a patent certainly for the first half of the year. people are looking much more at developed markets rather than the emerging markets. >> we have a chance to do exactly what you suggest there, andrew. and talk to analysts. clearly the whole series of factors are shaking things in emerging markets. political events like egypt but also what's going on in the broader economy. so let's move to select the help of a key player in the investment industry. the head of the allocation management firm. i think the question everyone wants to know the answer to, is