you're more comfortable financially, you're not willing to take risk. But you have to take risk and you have to manage that risk. So yeah, it's easier to do that if you're financially comfortable and if your clients have been with you for a long time. 80% of our clients have been with us since the first year we started our hedge fund. And that's helpful. So I mentioned that... Well, hopefully we'll have a chance in the second hour to talk more about your process and philosophy. But I mentioned that I had a couple more questions about rates and tariffs. So you mentioned earlier in our conversation that it's likely that we're moving into a higher, structurally higher inflationary environment and an environment of higher rates. The question I have for you is, what do you see for real rates? Does that still mean a positive rate environment or is the inflation indicative of structurally negative real rates? I'm just curious how you see that. Well, it would be better for the government. If (40/57)
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