Ladies and gentlemen, welcome to Grant's interest rate observer of the air.

I am Jim Grant, and with me today, usual cast of characters, except for one.

I'll get around to the one presently.

Eric Whitehead at the dials.

Phil Grant over there, he can talk, but we won't hear him, so that's not all bad.

And then the great Evan Lorenz to Phillips left, and as I mentioned, Jim Grant.

And joining us today is Beth Robillard, who was the president and co-founder of Bannerstone

Capital Management. That's in Minneapolis, where it's not snowing. Here in New York, it is. We feel a little bit

like honorary Minneapolisians. Is that the right word, Biff? Yeah. Biff, it is delightful to have you

on the program, which program, incidentally, or not so incidentally, is sponsored by three

separate corporate entities. One is Health IQ.

The second is a ZipRecruiter.

And the third is Grant's Interest Rate Observer.

Yeah, we just ran that into the conversation.

Biff, welcome to the Grant's Interest Rate Observer podcast.

Well, thank you.

I'm delighted to be here.

Yeah.

So I know Biff as a thinker. He thinks of himself principally as a father of two and as an

angler fisherman, but I think of him as a thinker. And he is practiced and quite successful in

thinking along the lines of a market technician. In fact, he is a chartered market technician, and in fact,

in fact, was sponsored in that endeavor, that scholastic achievement by none other than Robert

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