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Superb discussion at the outset on the intricacies of the bond market and how the Fed rates relate to bond yields. This is something different from Fritz and was greatly appreciated. Remainder of webinar was solid, as always. Liked the fact that Fritz is not unrealistically optimistic on the earnings front, saying that even half of the 11% projection would be sufficient to keep stocks going. Provides some perspective on things and tempered enthusiasm of that sort is often the best policy.