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"That's why I think the Nasdaq is still very vulnerable".
Reining in his commercials-friendly gaze, Ellis takes his digital camera into the city's seedy enclaves; from the hostess bars where a young mother is forced to eke out a miserable living, to the backstreets through which her husband drives his armoured but still very vulnerable vehicle.
Her Resource and Information Center, with its library of 25,000 documents, is still "very vulnerable to mullahs with matches and Americans with daisy-cutter bombs," she said, speaking of the 15,000-pound bombs dropped by American planes in the search for Al Qaeda mountain hideouts.
The remaining systemic institutions are still very vulnerable, and are being propped up by extremely easy monetary policy and taxpayer funds.
Yet the marine mammals are still very vulnerable.
And the world is still very vulnerable to a bubble," he said.
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However, the population could still be very vulnerable to climate change due to other factors such as high exposure and a lack of adaptation measures being in place.
Businesses still seem "very vulnerable to surprises.
56 mins: Newcastle are playing much better in this second half than they did in the first, but still look very vulnerable on the break.
Neil Woodford, head of investment at Invesco Perpetual and one of the few fund managers to have avoided the sector completely in the run-up to the crisis, thinks the stockmarket has hit a nadir, both here and in the US, but some sectors still look very vulnerable - including the banks.
I am still in a very vulnerable position.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com