“I don't think that's sustainable. I mean, God I'd love it, but I don't think it's sustainable, but we're not going back to 3%, 4%. I don't know if it's 5, 6, 7, somewhere in that zone. But it's going to be a very healthy growth rate.”

In context

“ectly about what you said about what I said last quarter. But let me say what I'm going to say this quarter. Listen, we -- historically, back in the bad days, we actually had negative growth, right? We lost more money than we brought in. Then for a bunch of years through the early sort of '12 through '15, we were probably running at 1%, 2%. The couple of years before the E*TRADE acquisition and before, frankly, the business really hit its stride, we were sort of running around 3%, 4%, 5%, and we kind of guided 4% to 6% was reasonable for long-term predictions. This past year, I think we grew at 11%, which is -- I mean, it's freakish, right, Glenn? This is -- you're talking about over $400 billion of new money. There are a lot of asset management companies that aren't $400 billion in size. I don't think that's sustainable. I mean, God I'd love it, but I don't think it's sustainable, but we're not going back to 3%, 4%. I don't know if it's 5, 6, 7, somewhere in that zone. But it's going to be a very healthy growth rate. And you compound that out over what is now $4.9 trillion, you get to really big numbers, which is why, combined with wealth and asset management, we put them together and currently, they're about $6.5 trillion. We can see a path to $10 trillion here, and we want to call that because we believe that's going to happen. So that's -- we're in that sort of, I don't know, 4, 5, 6, 7. It's -- and that's why I deliberately said in the script that it was too early to put a net new money target out there. We needed to see where this really settled. Glenn Schorr: Perfect. Exactly what I needed. Thanks. The other one, James, is the long-term goals, if you look at the last slide, I think those are great long-term goals. And if you could do that sustainably, I think you would get your multiple expansio”