For no no noons is a trained duke, and as credibly a well read anda, well informed in this world. Ah, and he is deep inthe modern portfolio theory and runs a lot of what he does based on modern portfolio theory. This is what i love about him so much. And we have these great conversations. He doesn't take offence at my view of Modern Portfolio Theory. It's just a educational er, you know, fin a theory that is useful in their work. The value is predominantly that it allows very institutions to rebalance portfolios and achievenow roughly a market rate of return. There is a certain value to those institutions of not having

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