this threat, this unresolved border, this unresolved conflict for decades. They're just continuing on and living their life. From a market perspective, the other thing that is going on is if anything, the geopolitical risk coupled with the inflation issues we might get to in a few minutes have conspired to bring down long-term interest rates in the United States. That in turn has made equity markets that look really pricey to me in the US at least, has made them look a little bit more attractive. I think the other part of the story is that if anything, by focusing on sanctions, on economic pressure and the like, that has helped a number of market actors say what imminent war is not likely. There can always be things that occur and the like, but you could ... Mistakes. I mean, things like we talked about there, you mentioned things, unforeseeable events, and that's difficult to price, but also those could be very catastrophic, whether we're talking about financial markets or in reality. (10/45)
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