...Two important disclosures on the Morgan Stanley research disclosure website at morganstanley.com/researchdisclosures. If you have any questions, please reach out to your Morgan Stanley sales representative. Well good morning, good afternoon, everyone. Welcome back to the Morgan Stanley's Financials Conference. I'm Mike Cyprys, equity analyst covering brokers, asset managers and exchanges for Morgan Stanley Research, and welcome to our fireside keynote discussion here with Apollo Global Management. And we're thrilled to have with us Jim Zelter, co-President of Apollo Global Management. With $461 billion of client assets under management, Apollo is one of the world's largest alternative asset managers. Jim, thanks so much for joining us, and welcome back to our conference. James Charles Zelter ...