would try to discourage them from doing is making the decision based on a continuation of that earnings differential. It doesn't make much sense and my guess is it's not going to continue to the same extent. What motivates you and has that changed over the course of your life, not just with respect to your work, but more generally for your life? What motivates you when you wake up in the morning? I have the luxury now of being able to tackle difficult questions. I'm not managing money now anymore. I've turned that over to my colleagues and my successors. I think about big questions, both the macro and how we should position ourselves and then bigger intellectual questions like what is risk and how should we deal with it and cycles and things like that. This is what I've been doing for the last while and it gives me great pleasure. Before that, I spent some good period of decades building an investment organization, leading people, trying to inspire them, trying to come up with an (28/32)
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