We don't know whether the current instance will have consequences similar to the 1929, 1972, 1987, 2000 and 2007 ones, but suffice it to say that these conditions were more notable for their outcomes over
the completion of the full market cycle than they were for their immediate outcomes.
We'll confidently pursue our investment discipline in any event, in the
full expectation that far better conditions will emerge to embrace
market exposure over the
completion of this
cycle, as they always have in
market cycles across history.