Well, this is Current Yield, Grant's interest rate observer of the air.

I am Jim Grant, and with me as always is Eric Whitehead at the controls.

We are separated today owing to certain technical difficulties, but he is no farther than like 10 feet from here.

And similarly with the great Evan Lorenz deputy editor

Rats, he is sitting in our newsroom as opposed to our customary recording. What would you call

Evan Studio or Cell? I think Cell. I think Studio because we're all in different rooms now.

Yeah, that's right. But it is not just we three. We are joined by Tim Bergen,

who is a formidable McTavish indeed. He is first and foremost the father of two. Secondly,

he is an experienced and a successful investor who has done just about everything in the world

of buying low and selling high. He has dealt in credit

false swaps and credit proprietary trader, both in New York and Toronto. And he worked for 12

years, banks and hedge funds and did well enough to have achieved the highest grade in capitalism,

which is that of independent capitalist. He manages his own portfolio,

and he writes about it too. Tim, that is a most questionable line of work writing about investing,

but do what you will. And what he writes is a most lucid and actionable set of ideas encompassed

under the banner on beyond investing. So he is a deep,

value, long, short investor that hardy, if not extinct, breed. He does research, which shows

you that he is. I like that idea. Evan, don't you, in actual research? It seems so...

I'm in favor of it. Retro, yeah. And also,

I'm going to quote him now in his own words, he said at one point in a beyond investing number I have

before me, he says that he is inclined to err on the barest side of things, which commends him

to this podcast, and I expect to many people in the Grants world. So, Tim, welcome.

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