Edentulous Regulations Edentulous Regulations Well, those would be regulations without teeth. No quote this time, just wanted a place to use this cool word.
Unaccustomed to Waiting"When somebody hears the G550 they ordered won't be delivered until the first quarter of 2013, they rattle their briefcase full of cash and don't understand why they have to wait." --- Robert Baugniet, spokesman for Gulfstream, explaining how new buyers from emerging markets are sometimes unaccustomed to waiting.
Humorous, but let's see if Baugniet keeps his job. Jet customers hate it when you insinuated that they are bumpkins.
Pachyderm Delight “Offshore drilling is a mouse; the Everglades is an elephant.” --- Mr. Guest of Earthjustice on the occasion of the acquisition of land from US Sugar by the State of Florida.
The Heartache of Farming "Italians come to ruin most generally in three ways: women, gambling, and farming. My family chose the slowest one." -- Pope John XXIII
FCC Rules: Number 1 and Number 2. "FCC indecency rules have to do, essentially, with sex, poo-poo and pee-pee." --- Bob Thompson, Syracuse University (Professor of Popular Culture).
The Nacho Tales "...the border town of Piedras Negras, Coahuila, just across the bridge from Eagle Pass, Texas, has the distinction of being the place where nachos were invented. The story of their creation is the Rashomon of Mexican cuisine: Everyone has a different version." --- David Lida introducing one of his articles on Mexico.
...but True"There is nothing tougher than a tough Mexican, just as there is nothing gentler than a gentle Mexican, nothing more honest than an honest Mexican, and above all nothing sadder than a sad Mexican." — Raymond Chandler in a classic Noir introduction.
A Simple Soros RuleWSJ: "How do you stay levelheaded in the middle of a bubble?"
Mr. Soros:" I don't. I panic. "
Green Guilt and Paganism "Guilt is terrible. It leads people to irrationality and terror. The political and social forces behind the movement to combat global warming and turn energy green are, to me, a form of paganistic spiritualism displacing conventional religions." --- Ken Fisher Forbes (6/23/2008)
Change: Two vs Ten "We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten."---- Bill Gates in The Road Ahead (1996).
Russian Power: The Interval Estimate "Russia is never as strong as it looks; Russia is never as weak as it looks." --- Metternich, speaking in 1814 but quoted in Forbes in 2008.
News, Change, and Bets It is easy to over-value the most recent scrap of news that you hear. Things do change, but you shouldn't go betting on overnight change. True, there are revolutions, but most events unfold at a snail's pace --- even most revolutions.
The Accountant Tell "Our top accountant is famous for his loyalty to the firm. He hasn't taken a vacation in years."
Oops. If there is ever a reliable "tell" in business this is it. Such an loyal employee needs to be "honored" with a nice (domestic) vacation ASAP while you call in the consulting forensic accountants.
Better Waiting than Wasting "If there's nothing to do, do nothing. If you're an action junkie it's going to get you in trouble." --- James Tisch, CEO of Loews Corp (now symbol L) in contemplation of sitting on $12B cash (6/17/2008)
Allegedly there is a famous Chinese saying: "All religions are fingers on one hand, but Buddhism is the palm." --- Personally, I think there is something to this palmistry connection.
"France consumes only half as much oil per capita as America, yet the last time I looked, Paris wasn’t a howling wasteland."
I wanted someone to make this point for me, though it is with reluctance that I quote Paul Krugman (NY Times, 5/12/08).
“It appears that surgeons are more satisfied than patients after total knee replacement.” --- Dr. Pieter H.J. Bullens, surgeon with a sense of humor.
"If real petroleum geologists are sure of anything, it is of the biological origins of the overwhelming majority of all exploitable accumulations of hydrocarbon fuels." --- Daniel K. Simon.
I did think there was more room for controversy here, or even possibly that the pendulum had swung to favor the theory of abiologic origin. Puzzle for the plant theory guys: How did methane become so common in the cosmos? Simon's statement is very carefully made, but it may not even cover the Ghawar field which has been pretty exploitable. Also, most oil shale is conceded to be abiologic, and it is getting more "exploitable" every day.
"... the Ph.Ds that populate Wall Street firms and dominate risk management, `have proven to be worthless, if not harmful.' " ---Bruce Wasserstein, CEO of Lazard Ltd. in a 6/3/2008 CNBC interview.
"Growth for the sake of growth is the ideology of the cancer cell." --- Edward Abbey
"I’ve been too early on a lot of things, but now I have enough money to be as early as I want.” --- T. Boone Pickens, in a Fortune Interview 5/30/08, when asked if his move into wind energy might be ahead of the curve.
"Given the magnitude of the potential disruption of the informational revolution, it is surprising that it has not generated more attention. It will have far more impact than global warming, and will occur far more rapidly." ---- Lyle Unger, from an essay in Science Progress
J. Paul Getty once said his success was based on “rising early, working late, and striking oil” --- from the Web page of Cholla Petroleum , for whom I wish the best of luck with the NW 1/4 of Section 163 Block 1 (H &GN RR Survey) of Dickens County, Texas.
"Ethanol is a scam!" --- Jeff Mackie, ranting on CNBC.com Fast Trade (5/20/2008).
There it is: The truth in four words. If you need two more words add: Farm Lobby.
"Moral indignation is envy with a halo." --- H.G. Wells (Recently quoted in Forbes)
"Too few have the courage of my convictions." --- Robert M. Hutchins. Not a bad quip for a college president.
"As Yogi Berra said, 'Even Napoleon had his Watergate.' " --- The real author of this "Yogi Quote" seems to be unknown, though Danny Ozark ---another baseball guy --- may be in line for some credit.
"My view of the world is that the markets typically correct from most liquid to least liquid." --- Spencer Haber, CEO of H2 Capital Partners, an alternative investment firm that specializes in commercial real estate securities. This is a testable assertion, and if true, it is bad news for REITs for some time to come. [posted 5/18/08]
"I'm reasonably happy, but the money's not the point. It's an indication that I've succeeded in the grand adventure of understanding reality." ---George Soros in response to an interviewer's question.
"Once ... in the wilds of Afghanistan, I lost my corkscrew, and we were forced to live on nothing but food and water for days." --- spoken by W. C. Fields (nee William Claude Dukenfield) in the movie My Little Chickadee (1940). Incidentally, The venerable Wiki has a marvelous inventory of WCF's lines.
"Academia doesn't get too interested in us --- we're too simple. What would the professors do? A great many of the formulas [they use to analyze securities and markets] are dead wrong." --- from the May 2008 BRK Annual meeting of stockholders (as reported).
"The last time I took advice, it only worked because I changed it." --- Anonymous, but let's just say it was from Yogi Bera, OK?
"Basic services, be they energy, water or communications, cannot be in the hands of private business." --- Evo Morales, President of Bolivia, quoted in the WSJ 5/2/08. Yogi Bera is Erasmus by comparison.
"However, to relate a personal example, let me tell you the only bad advice I ever got from my father: 'Son, don't bother to learn typing, soon enough you'll have a secretary to do that!' " ---- David Aldous, from his delightful essay on the "The Top Ten: Probability and the Real World."
"Hey, honesty may not be the best policy, but it’s worth trying every once in a while, as my old chief, Richard Nixon, once said. He had a much better sense of humor than is usually believed." ---- Ben Stein (NY Times 3/30/08), original given within parentheses.
"The argument could be made the market in general does not understand the real nature of risk. In a market that was truly efficient, predictability would sell at a premium and stocks of companies whose future was difficult to forecast would sell at a price that reflected risk inherent in that uncertainly. In this world, if Coke's PE was 24, Cisco's PE would be around 3½." --- exact source TBA
"There are two kinds of personality cults. One is a healthy personality cult, that is, to worship men like Marx, Engels, Lenin, and Stalin. Because they hold the truth in their hands. The other is a false personality cult, i.e. not analysed and blind worship." --- Mao speaking at the 1958 Party Congress in Chengdu (as wikily quoted) .
"There are three parts to a seminar: the introduction, the content, and the conclusion. My advice about introductions is simple: don’t have one. I have seen many seminars ruined by long, pretentious, contentless introductions. My advice: say a few sentences about the big picture and then get down to business: show them what you’ve got and why it’s important." --- Hal Varian from his essay, "How to Build an Economic Model in Your Spare Time".
"Where historians go wrong, the professional academic historians, is that they leave the best stories literally in the footnotes as if they are too frivolous to tell in the actual body of a text." --- Erick Larson, best selling non-fiction author of Thunderstruck and The Devil and the White City. (see an interview with EL)
"The strength of the Kremlin lies largely in the fact that it knows how to wait. But the strength of the Russian people lies in the fact that they know how to wait longer." --- George F. Kennan, Memoirs 1925-1950 (page 511).
"Statistics is a science in my opinion, and it is no more a branch of mathematics than are physics, chemistry and economics; for if its methods fail the test of experience—not the test of logic—they are discarded." --- John W. Tukey, quoted by David Brillinger (AS, 2002)
Another tidbit from the Brillinger's article:
"For the period 1960–1961 he [JWT] was President of the Institute of Mathematical Statistics. One innovative step he took as President was to carry out a survey on the IMS members’ feelings on the need for a separate journal of probability. The results were in favor, but The Annals of Probability did not appear until 1973."
“Those who travel the high road in Washington need not fear heavy traffic.” ---Former Senator Alan Simpson, quoted by Warren Buffett in his 2007 Letter to Shareholders. (3/2008)
“It’s probably true that hard work never killed anyone –-- but why take the chance?”
"Wishful thinking can dominate much of the work of a profession for a decade, but not indefinitely."
--- Robert Shiller in "From Efficient Market Theory to Behavioral Finance" (Cowles Commission Report, 2002)
"When I was young and foolish I used to laugh at the Harvard Business School. I said, "They're teaching 28-year-old people that high school algebra works in real life?" We're talking about elementary probability. But later I wised up and I realized that it was very important that they do that, and better late than never."
--- From C.M.'s address on Cognitive Biases at Harvard Law School
“The war situation has developed not necessarily to Japan’s advantage.” --- Emperor Hirohito on the occasion of the surrender of Japan to Allied Forces in 1945 (recently quoted by Paul Krugman in the NYTs; Krugman aimed to tar Bernanke's view of the subprime crisis with a similar brush.)
"Dr. Levy thinks he understands why these prevention strategies are given such short shrift. Prevention, he says, “does not have a face.” There are no personal stories, no individuals who can be pointed to as the success of prevention. It is just statistics." --- Gina Kolata, NYTs, 4/8/07.
Candidate Edwards understands this "face" issue very well, and he certainly has no need for statistics. With such finely honed emotional senses, why should he risk confusing himself with mere data.
"Guillaume François Antoine de Lhospital, Marquis de Sainte-Mesme (1651–1704) published (anonymously) in 1691 the world’s first textbook on calculus, based on John Bernoulli’s lecture notes. He seems to have written his name as above, but it is more familiar as L’Hospital (old French spelling) or L’Hôpital (modern French); I prefer the latter, since it stops students from pronouncing the s (which Larousse’s dictionary says is not to be pronounced)." --- Ralph Boas 1 writing in the American Mathematical Monthly in 1986,
In a 1932 obituary of Ivar Kreuger (the "Match King," a much loved Swedish swindler) the author said of Kreuger that "in seeking to be a 'force for good' was crushed by the bleakness of his time." [The Economist, 12/22/07 p.115]
"Today, investors are loathe to recall that the real total returns on stocks were negative for most 10-year spans during the two decades from 1963 to 1983 or that the excess return of stocks relative to long bonds was negative as recently as the 10 years ended August 1993. " --- Robert D. Arnott and Peter L. Bernstein "What Risk Premium Is 'Normal?" (AIMR, 2002, p. 84)
All true, but perhaps not entirely fair. The ten year bull market in bonds ending in 1993 may have been at least as much of a one-time wonder as the l803-2002 golden age of equities discussed by Arnott and Bernstein.
"In the US today, as in many other countries in the past, confidence will return the first day an official statement about the economy proves to have been too pessimistic." --- Larry Summers, writing in FT.com 11/27/07
"In a frictionless capital market, foreigners will always own a greater proportion of a small economy's assets. By the same token, domestic investors in small economies will always seek to export most of their capital.
This equilibrium is at odds with a stable condition of national ownership and control of assets."
--- William Geotzmann in "Will History Rhyme? The Past as Financial Future"
So reasonable, yet the typical American might do best to avoid this whole conversation and just quietly enjoy a cerveza on the breezy veranda. Things will be as they will be.
"What is the point of diminishing returns on financial invention? Alas, we have passed it." --- James Grant, from the abstract to his talk "Fire the Braniacs" Columbia University (11/29/2007).
Mr. Grant is a clear thinker, and I am sure that he knows that a genie is rarely coaxed back into the bottle. So, "passed it" is very likely where we will live for a while to come.
"It's pretty hard to see how margins can expand in an environment that produces a 2.5% increase in gross domestic product," --- Arnie Schneider, manager of Schneider Small-Cap Value.
Schneider is tied with three others with the best winning streak against the SP500, and he sees little hope for small caps to out perform big caps over the next year. (11/07)
His statement also suggests a testable principle. Take years where the ex-ante consensus forecasted growth rate was below historical median. How often did the small caps out perform? My guess is that Mr. Schneider has history on his side.
You may not be a believer in history lessons, but when the VIX is high and the CBOE Put/Call ratio is high, small cap value has historically been, shall we say, an unhappy holding. If you are a style box kind of person and you are not heading for the hills, then you might head for large cap growth.
2.5% Not Bad; I'd take it (12/20/2007); Looks like 0% or maybe less (5/22/2008).
“The dollar is in free fall, everyone should be worried about it,” Mr. Chávez told reporters. “The fall of the dollar is not the fall of the dollar — it’s the fall of the American empire.” (11/07)
Quite a guy, President Chavez.
"One characteristic of a rational forecast is that it should be less variable than the object being forecasted." ---Kevin J. Lansing writing in the FRBSF Letter (10/26/07)
Lansing reprises Shiller's argument that the stock market is "too volatile" when compared to the rational model that says current stock price is a forecast of the present value of the future returns.
"The avoidance of taxes is the only intellectual pursuit that carries any reward." --- John Maynard Keynes
The “finite pool of worry” bias. For example, if your car won't start, then Global Warming is not high on your list of concerns.
The “single-action" bias. This kind of error is well known to chess players. When you have identified one good reason for your opponents move, you tend not to look for other reasons for the move. A more serious case concerns radiologists who tended to stop looking for tumors after finding one --- thus leaving others undetected.
Well, you get the (admittedly geekie) idea.
Early in Structural Stability and Morphogenesis, Rene Thom asserts ---
"The use of the term 'qualitative' in science, and above all in physics, has a pejorative ring. It was a physicist who reminded me, not without vehemence, of Rutherford's dictum 'qualitative is nothing but poor quantitative.' "
What a bunch of quarrelling preschoolers!
Is there anyone on the planet who honestly does not understand that there can be qualitative insights and quantitative insights --- the worth of which can go either way?
"If you were taught that elves caused rain, every time it rained, you'd see the proof of elves. "--- Ariex (via Terrence Tao's quote page)
Another that I like comes via Tao:
"There are two rules for success: (1) Never tell everything you know..." --- Roger Lincoln
“When you’re young, you learn all the hard shots,” he explained, “and then when you get better, you learn how not to need them.”
This is what Danny Basavich, age 29, has to say. He is a very gifted pool hustler with a reputation for excellence that has driven him into other fields.
t's a bummer when you have the skill to beat anyone, and no one wants to play.
This simply does not happen in the financial services industries. Chalk up yet another benefit over hustling pool.
Next, when you are describing
A shape, or sound, or tint;
Don't state the matter plainly,
But put it in a hint;
And learn to look at all things
With a sort of mental squint.---Lewis Carroll
It is a delight to find a bad paper on a good topic. The bibliography is done, the issue is well posed, and the strawman sits there almost expecting to be poked with a stick.
---- Hey, I'll take credit for this. You can't legitimately quote yourself, so I left off the inverted commas. Incidentally, if you're a student looking for more research "advice" (a dangerous notion) you may want to see my related rant.
"By the mid-1980s, the question of where floating lobster larvae landed on the bottom and transformed themselves into fully formed lobsters had become one of the most maddening mysteries of lobster science."
--- Trevor Croson The Secret Life of Lobsters (page 143), and now also a footnote to my little piece on Statistical Science.
Incidentally, I recently saw a note in the Cornell Alumni News that mentioned meat science. Yumm!
"Thank you for sending me a copy of your book - I'll waste no time reading it."
- Moses Hadas (1900-1966)This famous publishers' quote hangs like a life sentence over the heads of aspiring authors of fiction.
The people who write for the scientific and technical trades are massively luckier. If your technical book is up-to-date and professionally executed, then,unless you get stubborn about something silly, your book will find a publisher.
Writers of fiction have no such guarantee. Still, perhaps they are well compensated by getting to live in a world of their own imagining.
"Simply stated, there is no doubt that Saddam Hussein now has weapons of mass destruction. There is no doubt that he is amassing them to use against our friends, against our allies and against us." --- Vice Pres. Dick Cheney, August 26, 2002 http://www.msnbc.msn.com/id/18094428/
OOPS...and see next quote
A man always has two reasons for the things he does --- a good one and the real one. --- J. Pierpont Morgan
Quoted by Ron Chernow in The House of Morgan, p. 114, after telling about "closed door" peccadillo's of Charles Schwab, the Schwab that served as the first CEO of U.S. Steel --- not the discount broker.
"Yvonne poured herself a drink and melted into the chair across from Callie. She brushed a strand of moltenly hair from her eyes and proceeded to carve the ham. Callie watched intently. Juice streamed from the ham in rivulets like saliva drooling from the fierce jaws of a wild dingo poised over the dead carcass of its prey in the dingo-eat-dingo world." ---- from Atlanta Nights by Travis Tea.
If you like language and warm to schadenfreude, you'll have belly laughs as you read this book out loud to your friends.
In a nutshell --- It is bad by design.
The world is full of bad books written by amateurs. But why settle for the merely regrettable? Atlanta Nights is a bad book written by experts. --- T. Nielsen Hayden
As the crash of 1987 unfolded, the Federal Reserve greatly increased liquidity and the Treasury allegedly stood ready to buy stocks. As stocks tanked, bonds soared. Thus, in aggregate the damage to the store of financial assets was considerably less than the collective memory now recalls.
The Fed's actions also led to the notion of "the Greenspan put."
Now (5/25/07) with a crash of Shanghai stock exchange baked into the cake, the question is how finance minister Hu Jintao will find his own way to keeping a market correction in China from becoming an economic (and political) disaster.
"Wherever you work, most of the smart people are somewhere else." --- Bill Joy
"... bottled water is a good idea when traveling overseas, but it's a $22 billion scam in the US. It costs anywhere from 1,000 to 10,000 times the cost of tap water. Unlike tap water, there is virtually no enforcement of health and cleanliness standards, nor is there fluoride to prevent tooth decay. The healthiest bottled waters are bottled from tap. And the bottles themselves pose an environmental disaster. Here's a 30 second clip from the episode for you to consider (click on the Watch Video Preview box). " --- David Cowan
The discovery of gold at Sutter's Mill was a matter of luck. Still, it led to the California gold rush --- an evanescent event with lasting effects --- substantially, the creation of the city of San Francisco and the State of California.
The Black-Scholes Formula was also substantially a matter of luck. Also, in a way, it was just as evanescent as the California gold rush.
Its concrete use has now almost vanished, except through the vestigial (and inverted) notion of implied volatility. Still, from the formula's tailings new mines of derivative securities have developed that were unimagined during the days when the formula was to be believed.
Related Items: Statements of General Suttter on the circumstances of the discovery of gold at his lumber mill and the immediate consequences.
"Foreigners are often amused that the Dutch have one word, schoon, for both clean and beautiful." --- Anthony Baily, Vermeer: A View of Delft (p. 69)
What a sympathetic notion for mathematicians, for whom clean, clear proofs (and facts) are invariably the most beautiful.
"The Constitution is not neutral. It was designed to take the government off the backs of people." --- Justice William Orville Douglas
"Our country has not been lucky. It was decided to carry out this Marxist experiment on us. In the end we proved that there is no place for this idea --- it has simply pushed us off the path taken by the world's civilized societies."
---- Boris Yeltsin, speaking in 1991.
What I like about French Communism as a part of European intellectual history is that it has a beginning, a middle, and an end.
--- No inverted commas; I'll take the rap.
"Inverse vandalism noun.
Creating something for no other reason than the sheer fact that you can create it. Most Web pages are acts of inverse vandalism."
I love this new concept, as recorded in near real-time by that wonderful site, Word Spy.
"An attorney who treats a client like a hypothesis would be disbarred; a Ph.D. who advocates a hypothesis like a client would be ignored."
--- Lee Epstein and Gary King (Chicago Law Review, 2002)
Life is pretty random, but not purely random --- not 50-50.
Your job every day is to sort out the 51s from the 49s, or at least the 60s from the 40s, and never ever should you forget that a 95 is not a 100.
No quotes --- I'll suffer the blame.
"In all of recorded history there has not been one economist who had to worry about where his next meal was coming from." ---- Peter F. Drucker
"I'm amazed. Some people take better care of their cars than their bodies. It's weird." --- Cardiologist Charles Karaian
For me this is a telling quotation. Statisticians are often asked to do what simply cannot be done.
It is all too human to offer false hope: "Oh, sure, we can do something here."
It takes a lifetime to learn to say, "Sorry, Friend, this is not possible. You ask too much of our modest tools."
"Statistical analysis is only as good as the numbers that you run," said Ben Witherington III, Professor of New Testament at Asbury Theological Seminary in Wilmore, Ky.
Replace "as good as" with "at most as good as" and it's ready to serve, but hey, why do I quote a theologian on statistical inference?
Keep your eyes on Statistical Science (or the Annals of Applied Statistics) ...and keep your fingers crossed that this is the only place you'll see Theologians quoted on statistical inference.
Note for San Francisco Old Timers: Do you hear an echo of a Herb Caen society quip? (or for movie fans, the voice of Danny DeVitio as journalist Sid Hudgens in LA Confidential)
"Philosophy of science is about as useful to scientists as ornithology is to birds." -----Richard Feynman
"Any science that calls itself a science is not a science. Consider Chemistry, Physics and Medicine compared to --- say --- Political Science or Computer Science." ---- a quip from well-known computer scientist Jon Bentley. (Incidentally, this quote had a role in the naming of the IMS journal Statistical Science.)
"Remember that nothing matters very much, and few things matter at all." — Arthur Balfour.
From a man who helped to shape the history of the Middle East, we might have wished for more. Still, it was his story, and he stuck to it.
"I would rather fail in a cause that will ultimately triumph than to triumph in a cause that will ultimately fail." — Woodrow Wilson
Wilson's quote has more style, but I can't argue that he actually delivered a higher level of statecraft.
"Americans are broad-minded people. They'll accept the fact that a person can be alcoholic, a dope fiend or a wife-beater, but if a man doesn't drive a car, everybody thinks that something is wrong with him.''
---- Art Buchwald, March 1996, via Jonathan Borwein.
As a member of Philly Car Share, I heartily endorse PCS's urban-wise program. It is economical, ecological, and a dominant strategy to car ownership in Philadelphia.
Making Parking Pay: "Ratio of Los Angeles city revenue from parking meter-related fines to parking meter coins collected: 10 to 1." --- Michael Schrage, LA Times
In the category of Best Abstract for a Paper in Economics: The prize goes to this baby.
Next, everyone's favorite, the mesmerized economists. They provide hours of innocent fun, well worth the minute they may take to download. Don't forget to explore the picture with your mouse. The economist are cutest when watching the index go South!
David MacKay's feature-by-feature comparison of his recent book Information Theory, Inference, and Learning Algorithms with J.K. Rolling's less recent Harry Potter and the Philosopher's Stone.
"There's no business like show business, but there are several businesses like accounting." --- David Letterman
"I like pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals." --- Winston Churchill
"Nothing is destroyed until it is replaced." --- Auguste Comte (1798-1857)
"A little sincerity is a dangerous thing, and a great deal of it is absolutely fatal."--- Oscar Wilde
"I don't make jokes. I just watch the Government and report the facts." Will Rogers
"Never offend people with style when you can offend them with substance." --- Sam Brown
To keep this page as fresh as possible, it is often restructured --- say by morphing a group of quotes into a rant.
Among the rants that have been formed this way, I warmly recommend:
- "Market Quotes" --- Quotes that Poke Financial Markets
- The theory of meta-quotes,
- On language (and languages),
- Thinking, Understanding, and Computing
- More Quotes
- Leadership and Decision Making (essay frame)
- The Full List of Rants
Let me know if you fail to find an item that you need, or if you find a link that is broken.
Nothing Goes Past a Dancing Elephant. You can quote me on that.
