By the way, I'm not sure the managing director who was 50 in 2005 understood that the job had changed - that when he or she came out of school in 1986, that it was different. How would they know? We've got to admit that.

In most industries, technological change is happening at a rapid rate.

[Millennials ] are sharing cars. They're sharing apartments. I'm not sure my generation quite knows how to take advantage of it.

Do people have confidence? I think the real confidence you need is the confidence in your outlook, and I think people are pretty confident it is a low-growth world.

Without going too deep, without globalization I am not sure everyone would be able to have a supercomputer in their pocket at the low cost.

Whatever it is, in a 1% GDP world, I think people feel like there are other things they have to do other than just organic growth.

The investing public understands that you need to do things to position yourself.