what exposure would you recommend to these hedges not just against of course inflation but of course indirectly inflation as a result of geopolitical escalation yeah geopolitical escalation this big problem right now along with interest rates along with inflation just a combination of risks at this point in the market so again we go back to as i was talking the beginning the year were still looking at energy exposure to energy exposure to oil exposure to commodities value we prefer value over growth and we just have to stay invested and start rotating the portfolios in these areas when it comes to china theres a lot of exuberance in terms of almost treating it as a haven play which may sound a little counterintuitive to those of being familiar with how much volatility there is in that market over the past few years have we hit a bottom yet what opportunities do you see when it comes to chinese equities chinese equities are still it is bottoming weve been feeling that way for a while it has really not done anywhere in the last few weeks so we feel like a lot of that is going to have to play out in the next few months and it depends on how the policy control if thats going to moderate if theyre going to find a solution for some of the restrictions on some of the come on some of the companies so its always going to be a good part of a diversified portfolio to own china equities but youre going to have to have investors is going to have to have a long term horizon owning chinese equities right now because its going to be a while before it starts to come back and we do expect nikkei teams performance on chinese equities this year but it probably is probably going to pick up later half of this year which sectors would you choose because you go to new economy stocks in tech for example and theyre being plagued by regulatory crackdown issues not to mention old economy property sector it has its own issues with that yes i mean we tech its a good its still a good area but i think some of the chip makers some of the more fundamental technologies and also are high yield asian high yield is a good timing at this point as well as we see a lot of the property about the property sector crisis has been priced in so you know but at this time i think in general market sentiments pretty risk off so anything we own in china or asia its going to were going to have to focus on the longer term horizon does that include japan because we had seen a lot of optimism at least last year for those cyclical plays that we could perhaps find in that economy definitely i mean japan eurozone that was you know but it can now that youre here the ukraine crisis we are still very cautious in international but the valuations are good not just not just in china but japan but we just have to be very investors have to be very cautious of because of that macro environment right now so any any equities have any exposure to international or in certain parts of this of japan or china we just have to keep it for a longer term longer term period