The Blackstone Real Estate Investment Trust's Be Read

There's no bounce. I mean, there's some individual names that have bounced. But if you look at these ETFs, there's really been no meaningful bounce. And on against the tape, that's obviously to the point we've been making earlier, it's done pretty well. So I think the banks are telling you something. They're going to be challenged going forward given what happened. Credit is going to tighten. Their ability to make money will be affected by that. Almost by definition, their earnings are going to start to contract. That's not bullish. You could say, yeah, valuation book value, all that stuff. Look at this chart and does it doesn't look