[MUSIC PLAYING] The one important point, I think, for investors to keep in mind is that market volatility has spiked up significantly. In one sense, I think what was abnormal was the lack of volatility for more than a year. But this is unnerving. I think we will hear increased conversations of the potential for recession. And the US could fall into a recession this year. I think, however, it’s very unlikely that we’re going to see the sort of economic ramifications like we saw from the global financial crisis. Would that be fair, Roger? Right, [INAUDIBLE]. That was close to depressionary levels. That doesn’t mean that we can’t be uncomfortable in terms of volatility and returns. I don’t know your prospective. I absolutely– yeah. I think it’s important to separate because there’s natures of an unfortunate disease spreading that, I think, is different from the global financial crisis, where there was a massive deleveraging of housing that really left a long period of job losses. Our expectation, right, this would be different in that sense. Absolutely. Yeah, I mean, with don’t the uncertainties that you could expect of trying to predict the number of cases and how fast it goes, right? But yeah, because people tend to think the global financial crisis in ’08. I would say the main difference is that at that time, it was not just a [INAUDIBLE] shock, I think the markets in ’08 they were anticipating this prolonged, as you say, this tail, because, essentially, the financial system imploded. Yeah. So there was no quick recovery from that even after the shock. And in this case, clearly, the markets are trying to assess the severity of the situation. Pricing the probability of a recession. Pricing that probability. Yep. Yep. But there is a clear understanding that, at some point, for some people even in China where some of the low rates of the cases are leveling off, at some point, things, if they can contain it under control, you could get a much typical recovery, both from the economic and from the market’s perspective, right? Yep. Yep. When the number of cases globally starts to crest, although, unfortunately, there’s suffering, there’s concern, the financial markets will start to look at that and then would move on, right? So– Correct. –I would say for investors, again, these will be trying times. They have been and they will be. If they’re looking for the all-clear on just the economic front, as we’ve counseled times in the past, by the time that we would see all-clear on the economic front and the medical front, the market has moved on. Passed away, yeah. Because they’re already trying to get a sense because the market’s trying to sense future cash flows for corporate earnings, bond returns, and so forth, right? If anything, the bar now is so low after that market correction, that you can get positive surprises in the prospects, right? Yes. Again, we don’t know yet, but we may find out and the market and may find out that it was not as bad as they initially thought. So that’s typically how markets react and sometimes overreact a little bit. Yeah, and that’s going to be important just for investors to keep in mind. We do not know when the bottom will be. But in the same way, we were at one sense counseling, hey, let’s not get over excited, right? Even the stock market at the beginning of the year was fairly frothy. That works also in reverse, right? In that, the market, at times, can become almost too pessimistic. It’s trying to assess a broad range of odds. As we are too. [LIGHT LAUGHTER] Yes, as we are too. Right. And so I think that’s important, where you could have the economic data start to really become disappointing in the United States in March and April, hopefully, not May. But then you could have the financial markets move on, right? That’s why it’s that disconnect, right? Yes. All right.