Well, this is Current Eield Grants Interest Rate Observer of the Air.

I'm Jim Grant, and with me as usual, Eric Whitehead, our engineer, sound man, etc.

And the great deputy editor of Grant, Seva Lorenz.

And we also have Seth Wiseman, who is the founder of Urban Standard Capital, who in a few moments

is going to tell us all about real estate in the city of New York.

But, you know, we awaken.

We New Yorkers, and I dare say, people throughout this country awaken to a sense of anticlimax

and not a little confusion.

And Evan, as he so often does, kind of capsulize the

capsulated, miniaturized the sentiment. And he sent around a message to the staff and the message

in its entirety was, quote, nobody knows nothing, which reminded me of a line of accomplished screenwriter. William Goldman was a guy who

wrote the screenplays for all the presidents, Ben, and Bush Cassidy and a Sundance Kid, et cetera,

and he died in 2018. Anyway, William Goldman uttered this immortal Hollywood line, quote,

nobody knows anything, which was apropos of the predictive capacity of

Hollywood executives to tell a flop from a hit. And nobody knew nothing with respect to their own

business of predicting the success of theatrical project, which I think is something to tell us

about risk and investments as well. Evan, when you typed the, I think is something to tell us about risk and investments as well.

Evan, when you typed the, I think William Goldman would have been better advised to have said,

nobody knows nothing, which I think is more emphatic.

But what were you thinking exactly when you wrote that improvement on the William Goldman line?

I was thinking how sure the market, how sure pollsters were and how sure very complicated models by the like of Nate Silver, New York Times, and everything else, exactly how

the election would go down to the margin. And then I remember watching it last night and seeing

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