We started with the implosion in Tokyo of the Japanese economy, Japanese financial markets.

We had the huge run-up in Internet stocks, right?

We had the implosion of that in 2000.

The bankruptcy of Drexel Burnham in 90

implosion of Japan

huge run-up in equity markets for the internet

implosion the internet in 2000 10 years later roughly

and then this run-up through the Iraq war and all that

the run-up to 2008 every 10 years it seems like

we're in some sort of 10 years before the 1990s was the 70.

You sound like an astrologer.

Okay.

I'm not a financialist.

I'm usually a mathematician.

It just seems to be a pattern of every 10 years.

That's misleading.

That's exactly right.

Because people like to see patterns.

People like to see patterns where there are none.

So a pattern of a financial crisis every 10 years is just in my mind yes long term capital that long term capital that had to be bailed out back in the late 90s when everybody panicked and

that wasn't a big that bailout today would look small and it was $5 billion or was $30 billion.

People, businesses fail all the time.

...