In 2009 you could buy great compounders at 10 12 times earnings whatever else but you could find other stuff at two times and of course at this point I would say that the you know if you're buying Mastercard or Visa at 12 times earnings it's a better way to go then something else which is cigar butt. "I'm going through an evolution where I found that you can't go all Nick's sleep" he says.