Now, clarity and it kind of goes a little bit with what you just said before,

you know, simplicity is the ultimate sophistication as Leonardo da Vinci is quoted in your book

for having said, do you want to add something? I mean, where does clarity become a little bit, you know, more important perhaps in

terms of investing?

So, you know, I have a different job now, but for a while there I was involved in the

creation and sale of these sort of behaviorally informed investment strategies. And the most common criticism I got when trying to market these things to institutional investors

was it just seems too easy.

Like, it's just too simple.

You know, where's the complexity?

And so as my friend Dr. Brian Portnoy says, we have this fetish for complexity in the world of financial services, and it's really, really misguided.

And so let me give you a couple of reasons why that's the case.

The Fed, the U.S. Fed, releases 45,000 pieces of economic data each year.

Okay, that's insane.

45,000 pieces of economic data.

If you regress all 45,000 of those variables against each other,

do you think you're going to come out with some things that are correlated?

Yeah, of course.

Like, of course you are.

You're going to find some signal there, but it may not reaffirm. with some things that are correlated? Yeah, of course. Like, of course you are.

You're going to find some signal there, but it may not really be signal.

So we have so much information now that there's so much noise out there that if we're not careful, it can, if we're not, you know, adhering to this dedication to simplicity, we can find

signal where there's just noise. So to give a couple of examples, there's the famous one about

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