Hi Brad,

What an incredibly thoughtful reply. Thank you for authoring it.

I can summarize my response to what you have written with, "Sounds like you are saying markets are imperfect discounting mechanisms." Did I get that right?

Separately, I didn't mention any securities markets specifically in my article. I intentionally mentioned things like oil just after its discovery, because it is at these moments that there is an opportunity to insert some consciousness.

Yours, in service,

Jason