And one of the most important jobs that I perform at Oaktree Capital Group LLC (NYSE:OAK) is to figure out the micro environment and the setting in which we all perform. We don’t consider ourselves market timers. We don’t raise in lower cash and our clients don’t expect us to do that, not doing so has always been an important part of our investment philosophy. But on the other hand, we think it’s very, very important to have a handle on the macro environment and to determine how aggressive or defensive to be and how much money to raise. I always say that – people ask me, what scares me, that’s the second question after what happens after you go under the buzz. And I will say, well, there are two things that scares me; one is raising too much money and the other is raising too little money. And it’s very hard to get that exactly right, but certainly to do that, we have to have a handle on the environment.