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dot com to get context. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene.

Daily, we bring you insight from the best in economics, finance, investment, and international

relations.

Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, we have Michael Holland of Holland and Company.

And Michael, I wonder if I could just ask you to cast your mind back because I was thinking

about this knowing you were coming on and I was

thinking about Lewis Rookheiser and Wall Street Week and I'm wondering if you can offer some

thoughts about why being an investor and being interested in the stock market particularly not

we'll get to the bond market in a second but the stock market used to be fun and there was no real animosity involved in the back and forth between the

government and regulators and investors and activists and so on. There was some of that

but what in your mind has changed because you've lived through this?

Boy that's a really tough question Tim. I'm trying to make it easy at this time in the morning.

You should have at least given you another cup of coffee before that one.

But that casts this mine.

Talking about very heavy stuff, the polarity in the US electorate in terms of Republicans versus Democrats and then you have Bulls versus Bears.

I mean, it's a nasty environment around the world in a lot of ways.

Having said that, I looked back at the year just ending,

...