Those Underwriting Assumptions - It's All a Big Mistake

Howard Kurtz: I think Howard really put his finger on it a moment ago, not only were we managing as a firm, especially in the more opportunistic strategies, a lot less than we had in the previous two or three years. There actually had been conscious decisions to sell out of assets that became very problematic, especially real estate assets. That was a function of just saying, somebody is willing to pay much more for this than we're willing to hold it for. So we're going to let it go. It's incredibly freeing to come in to a period of time that have very few or very minimal legacy issues to deal with and recognize that everybody else in the market is mesmerized