What do you see as some of the most significant indicators that investors are facing increasing risk and uncertainty?
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Bob Wiedemer: It's interesting, you always look at the smart people sometimes in a market and what they're thinking, because well... they're the smart people and they should know. Well, some of the smart people in the markets, some of the smartest people are the people that have to buy other companies for a living. They work at big corporations and they spend their time looking for other companies to buy. This has been big business for Wall Street, for companies. This is the way they've grown, because frankly, sales growth has not been that good for a lot of companies so they need to buy companies to grow.
What I've just read is that these people are getting nervous about how expensive everything is. They're buying very carefully. The prices are high. They don't like it, but there's not much choice. It's like being in a housing market. What do you do? The prices are high, but you still buy, but at some point, they know, we all know, that it's got to go down. It can't continue at an ever-higher price, unless there's something justifying it. Just like March 2000, everything had been going up, everything looked great, internet was good, everybody agreed it's a revolution, but it just became too high priced and boom! It fell. Doesn't even necessarily need a trigger event for that to happen, a news event. When markets get high and people are worried. You know, they're all kind of looking around going... you know it, I know it, let's all hope it keeps going, and then something breaks and that's when the panic and the nervousness really starts to show. You don't see it before, of course, the pop. Just like March 2000, you didn't see it in January or February, you just saw glowing reviews, but then it hit. No trigger event needed.