Renaissance Technologies

8785.141 - 8811.07 David Rosenthal

Right. So let's accept that there is a possibility that that might be true. More likely, though, is that what Rentech does say is true, which is no, there is no holy grail. What we do here is we completely reinvent the whole system continuously on a two-year cycle. Two years is kind of what I heard. The model is fully restructured every two years. It's not like on a date every two years.