Welcome to Current Yield Grants Interest Rate Observer of the Air. I'm Jim Grant, and with me as always is the great deputy editor of Grants, Evan Lorenz, and Henry French is our sound engineer. Again, as per always, but not per always, but uniquely

on this issue of current yield, is Craig Moffat, who is the co-founder of Moffat Nathanson,

and himself is Wall Street Research Royals, having been selected no fewer than nine times

as a number one telecom and

and I don't know solar powered on what goes with telecom

okay cable right 15 times altogether as an all-American eye analyst but number one no fewer

than nine times and sky also, Craig is a hyphenate.

That is someone who does two things. Once while at Sanford Bernstein, he was selected number one,

yeah, in two separate sectors. So that would have been like telecom and then what, I don't know,

ballistics or something or... No, it was when cable and been like telecom and then what, I don't know, ballistics or something?

No, it was when cable and satellite and telecom were separate sectors back in the day.

They've now been combined.

I thought it was something altogether different.

And, well, the idea that you would have two separate and distinct interests

certainly follows from the fact that

earlier your career, Craig, you were the founder and president of the e-commerce wing of Sotheby's.

So a man of the arts and of the technologies and now of the grants.

Well, it's a pleasure to be here, so thank you for having me on.

Well, you are entirely welcome. Before we get into all things telecom and all things consumer,

I want to invite Evan to comment on something that I saw on the World Wide Web. Here's a quotation,

unattributed as far as I know, although I have my suspicion who might have said it, but here

it is, and Craig, you might listen to this as well. Henry, keep your ears open. Here it is. The people that

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