At this moment, markets are probably more expensive relative to earnings then they were before the crash began. There is very little visibility into what earnings will look like into a recession or what the recession even looks like under these circumstances. Hard to talk about what you priced in or not when we don't know enough about what the world looks like in 6 to 12 months. Fauci said this might stick around and come back in the winter. That scenario is definitely not positive for consumer spending and earnings.