But, the timing. If the AI trade, if all of Nvidia, if all of a sudden next year Nvidia is up 300% and goes back to where it was before, nothing changed. It's just the timing you got wrong. You were in it, you couldn't wait because you've got investors who are measuring you on a 12-month basis. The volatility. We've had a dramatic shift in the Vixy Q. Single name vol has exploded. Index vol has barely budged. You have no hedges. So, you can be wrong on volatility of the markets and the relationship of
If the AI trade, if all of Nvidia, if all of a sudden next year Nvidia is up 300% and goes back to where it was before, nothing changed.