linechon you in the blue apf estimates for the second half of this year. they've only come down around 3%. this is simply too optimistic for the second half of this year. even if the rest of the business is performing well -- trading, investment banking, represents 60% of these revenues. when i look at the concerns here -- concerns about goldman sachs at some point interest rates will go up. they are benefiting terms of net interest, sensitivity there. goldman sachs in issue here. this actually sticking with the current sector of the business. ,f they are sticking with it maybe those etf estimates to have to come down. >> speaking of the lack of trading revenue, you have to continue to talk about the incredible lack of volatility that we are seeing. this is a cool chart shows average quarterly volatility -- going back to late 1997. we are really low here. there's nothing going on in the markets, hard to generate some trading revenue. this and the left side between 1998 and mid 2000. what i think is interesting here, the was a boom time and markets. we tend