Is Dispersion Going to Be a Really Important Thing?

We look for all sorts of different macro themes and then think about ways to express them in markets, in our vol portfolio. We run a pretty decent-sized dispersion book. And so, you know, we're looking for things that are starting to pop up in the world and just say, well, how do we capitalize on those? So an example might be, well, one of the things that we really capitalize on is we thought that the world would experience this inflationary paradigm pre-pandemic. It's certainly post-Pandemic we did. This trend of inflation, which most people seem to be unable to recognize, may be actually secular and not just transitory