Slight 92 - Is This Really a Growth Cycle Down Turn?

Historically, in these sort of growth cycle down turns, we've seen somewhere between 35 to forty % decline in this hi beta lobeta ratio. So it's telling you that we have a long way to go down from that spective. On slide 97, i'm showing here, just as at proxy for the business cycle, the sychical opponents of the business cycle. And then lastly, on 98, valuation, to meiis was always the biggest problem out with acid markets, the positioning and the valuation associated with that positioning. At this point, im tarsience at forty two macro la la la cliences could really make this lot worse. But ultimae