The Importance of Asset Allocation and Risk Tolerance

I think for us ultimately, when we're looking at this for clients over the longer run, we really do focus on fundamentals. And so ultimately, you're trying to pick high quality companies that can grow and then you are opportunistic on an event driven basis. So those kinds of events that create discounts or dislocations are an important part of how you invest money because entry points matter. That's true. I think a lot of people in our business talk about these events as if they were the end all be all and they took all their money off of red and they put it all on the black. And that's just not how it happens.