The Rise of Passive Bids

As long as the passive bid keeps coming in from, you know, everything from buybacks to people still being hired, or still being employed, that those stocks get the largest lion's share of the money. So I do think it's interesting to look at. And maybe those stocks take over the world when you have full employment and people paying or people paying into their 401Ks, et cetera. The strength even in the face of shitty earnings, the strength of the last three quarters to come once companies have got out of their quiet periodonce they release their earnings.