Transcription
So instead of give us a gist like S&P 500 here, would you buy that? Equity is name by name. I I'm not an index kind of person.
Have you bought any equities recently? Uh no, I have not. So you said in general my big bites is price, but but if you came to me and said, you know, this is a great investment, I would consider doing it.
Long-dated government bonds, would you be a buyer of those? But personally no. I would not be a buyer and part of it is interest rates, you know, inflation. I mean even if inflation was 2%, you know, the 10-year bond should probably be at 4 and 1/2 or 4 to 4 and 1/2 and they're almost there today. You know, being an economic historian, I I I can't take out of my mind what happened you know after the great recession of '74.
What what aspect of the way you run the bank do you think will be hard to emulate? I mean, presumably you would accept that whoever succeeds you has to do it their way.
Someone asked me recently about that. They said, "What are you looking for? Like what strengths? Like technology or AI?" And I just think that's a false thing to look at. I think what you what you want is someone who's got work ethic, openness, curiosity, earns the trust of people, you know, can really work hard, can have empathy to deep level and in many different ways, enough IQ to make sure the detail analysis is done. They don't have to do it, make sure it's done. So they have to be kind of disciplined like a little bit of a military discipline otherwise it doesn't work. But then there's you know, the heart. I mean, do you actually take care of people? Do you I fire customers who treat our people really badly. I will not put up with that.