>> All right.
You know, this investment management is all about making decisions under uncertainty
and the markets are ever-changing.
So probably the most interesting aspect of being in the investment business is taking a set
of strategies or disciplines that you've learned over time, but applying to them
to a brand-new set of conditions.
And markets are ever-changing, economies are ever-changing.
Being able to navigate that ever-changing environment is how this gets exciting.
You know, the excitement comes in this world by the ever-changing environment,
but that's also one of the most challenging aspects of being in the investment business.
The reality is there's no on one right way of investing across the whole market environments.
The other challenging aspect of it is you need to have a level of humility to understand
that not every decision is going to work out right.
You know, hubris can be a real challenge in this business.
You need to objectively look at what you've done.
You need to be able to make decisions objectively, not get caught up by emotion.
And, you know, ultimately if you have strategies and disciplines that make sense
and are geared towards achieving goals over time,
then even though the market environment may be challenging or some periods,
in the end those fundamentals that you're focusing on will carry the day.