robert thompson is joint death -- we thompson -- rupert thompson, kingsford cio, is joining us next. this is bloomberg. ♪ ♪ guy: 30 minutes until the closing europe -- 13 minutes until the closing europe. rupert thompson is the chief investment officer at kingswood. he joins us now. the u.k. health secretary he expects hospitalizations and deaths to rise dramatically. in what scenario do you think equities will take price? rupert: i think if boris ends up having to put in a full-scale lockdown and we get worse news about how effective vaccines are against omicron, which was the initial news last week, then the markets may take fright. the number one risky to markets is still inflation, despite what is going on at this very moment. alix: so how do you play the number one risk being inflation? rupert: you just have to sort of shut your eyes and go through it. as you said, we are sticking with our small overweight of equities. it is not that we think we are through the period of volatility. you've got covid burning on the back in her, but inflation at 40 year highs getting bought. i