we had a pretty good period before that of markets not being very volatile, you get the panic and the reality is panic, panic and you bounce back the other way and then that volatility makes people still jittery, and then after a while, reality takes over. it's markets like to bounce around. neil: so what's the reality now? the consensus view, you always challenge that, made a lot of money for you and your investors going ahead and challenging consensus, is that the prospect that no trade deal with china or one that's significantly delayed is going to be a negative for the market. do you agree with that? >> so tariffs are a negative. i've said this before on your show a time ago last year when this was first starting. but they're a little negative in the scale of the size of global trade. in that, we have an 87 trillion dollar global gdp. we have a world that's growing at a few percent real and a