| rate hikes affect the market in 2022 | 4.48 | Jump to 15.2 |  |  | 
              
                
                  | let's find out what the ceo one of the | 3.92 | Jump to 17.68 |  |  | 
              
                
                  | one of the largest value managers in the | 3.84 | Jump to 26.64 |  |  | 
              
                
                  | in 2022 and and what does raising rates | 6.0 | Jump to 46.879 |  |  | 
              
                
                  | look at back over the past 40 years bob | 4.241 | Jump to 74.159 |  |  | 
              
                
                  | market has been about one percent a | 3.6 | Jump to 78.4 | 
                      
                        
                      
                        PERCENT
                      
                      
                        about one percent
                      
                     |  | 
              
                
                  | funds rate it has been about one percent | 2.96 | Jump to 86.159 | 
                      
                        
                      
                        PERCENT
                      
                      
                        about one percent
                      
                     |  | 
              
                
                  | about two-thirds of the time the market | 4.08 | Jump to 90.96 | 
                      
                        
                      
                        CARDINAL
                      
                      
                        about two-thirds
                      
                     |  | 
              
                
                  | good news we've been doing this for 40 | 3.44 | Jump to 146.0 |  |  | 
              
                
                  | outpaced the market by about two to | 4.161 | Jump to 195.519 |  |  | 
              
                
                  | three to four percentage points a year | 4.0 | Jump to 197.28 |  |  | 
              
                
                  | but it's really the first out | 3.28 | Jump to 212.959 |  |  | 
              
                
                  | cap and value in 2022 you basically just | 3.52 | Jump to 220.48 |  |  | 
              
                
                  | in 2022 | 3.041 | Jump to 233.439 |  |  | 
              
                
                  | the following 12 months tend to be | 3.841 | Jump to 263.759 | 
                      
                        
                      
                        DATE
                      
                      
                        the following 12 months
                      
                     |  | 
              
                
                  | four percent | 3.28 | Jump to 272.479 |  |  | 
              
                
                  | market for 2022. | 3.76 | Jump to 289.68 |  |  | 
              
                
                  | is that going to change in 2022 do you | 3.12 | Jump to 313.6 |  |  | 
              
                
                  | opinion those two things are at odds | 3.6 | Jump to 374.08 |  |  | 
              
                
                  | can't figure out why is the 10-year | 3.521 | Jump to 430.639 |  |  | 
              
                
                  | and when you think of the one instance | 2.96 | Jump to 450.72 |  |  | 
              
                
                  | aggressive back in the fourth quarter of | 4.32 | Jump to 453.68 |  |  | 
              
                
                  | 2018 the market clearly reacted | 5.84 | Jump to 455.199 |  |  |