Uh, you know, Jeff, we were talking to a CIO earlier today and asking his thoughts on the markets and he said, you know what? This market here after this run off those April lows, it's looking kind of it's looking kind of stretched, he said. We're a bit extended. Wouldn't be surprised, he told us to see a correction coming. What do you make of that argument?

Yeah, I I don't share in that. I think the volatility is going to continue. I mean, whether it's uh, the daily Truth Social posts or the economic data that scares things temporarily. But I I think from a long-term perspective, the worst is behind us for the year. I think the extreme volatility as was just shown with the VIX, right, is behind us. We're at 23 levels at the VIX. There's really nothing to worry about. Um, so I think this summer volatility is going to be a bit more muted as people kind of check out of the daily news that's been triggering a lot of the the tariff related news associated with it. And we're really hopeful going into year end. I think it's setting up well, um, for a lot of the broad-based market to have some strength going into year end, especially those mag seven names who maybe got hit more with the tariff talk.

Um, Jeff, I understand, and this is what a lot of investors have been saying that the the worst is behind us in terms of the tariffs, or we've avoided the worst case scenario.

Right.

But what about the flip side of that, what's actually going to go right? I can see that things maybe aren't going to go terribly wrong,

but

do things have to, do we have to see some more positive catalyst, actually good things to happen for stocks to rally from here?

Yeah, that's a great question. So, where we were earlier, just about a month and a half ago, consumer sentiment, CEO sentiment was incredibly negative. Like some of the worst it's been since 2008-2009. You're seeing that shift back to either more neutral or even some greater strength and bullish for the end of the year. I think that's going to be one of the catalysts is the sentiment around both consumers, which will reflect in spending, and then CEOs, which will reflect in capex. I think you're going to see both of those continued shift away from very bearish to much more neutral or even bullish going into year end. I think that's going to help in a variety of fronts from an economic perspective, not to mention any little bit of cut we get from the Fed is going to boost psychologically, uh, the consumer well, from a sentiment perspective. If the Fed does what many expect it to do and give a cut next, uh, later this month, I should say.