Well, ladies and gentlemen, this is Current Yield, Grant's Interest Rate Observer of the Air.

I am Jim Grant, and with us, as always, Eric Whitehead at the control panel, and the great Evan

Lorenz, deputy editor of Grant, sitting directly across from me.

And to my right is son Philip, who edits almost daily grants.

And here we are getting

close to, I don't know, in a way, getting close to holiday time. And I know that because Eric Whitehead

has the family, a vacation brochures out. Let's see. There's one, it's Syria. Let's see. It's

good. It's excellent faith. Lebanon, good. A lot of interesting things in Lebanon. And Chile, I think, is a new thing on the Whitehead family agenda. There's some insurrection, I think.

Yeah, that's right. The public spirit is roused. But since they canceled the APEC meeting, I think there's a lot of hotel vacancies. He might get a good deal. Yeah. And Hong Kong, of course, is a perennial with the whiteheads.

So, uh, great weather. Yeah. I'll want you to do a little bit less of this, Eric, if you wouldn't mind

during business hours and take these brochures. Perhaps you can talk with the wife about them at home.

Yeah, it's good. Okay. So anyway, ladies and gentlemen, we are here a week after the famous fall grants conference. What a day it was. If you weren't

there, I mean, I didn't know what to say. What can we say? Oh, I know. You should have been there. Next year.

Yeah, right. Next year. It's always next year. Yeah, we got one next year. Well, actually, you could still

actually buy replay to the conference if you log into the grants website and actually go to our conference section. Correct. Great, great call. And in fact, there's one presentation in particular there that actually tells you how to invest in tech

after everything kind of goes, falls down pretty hard.

Pear shake.

And this is becoming a more relevant topic in the last week or two.

Yeah.

Well, a lot, apparently is a new thought in Wall Street.

That thought is that profits are desirable. I'm not sure that it has gone so far as that profits are essential. Maybe

that's for the bottom of the cycle. But we seem making progress in that respect. And one of the things

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