But welcome to Grant's interest rate observer of the air.

This is the Grants podcast, and I am Jim Grant.

And with me today, as usual, is the deputy editor of Grants, the great Evan Lorenz.

At his side is Phil Grant, the editor of Almost Daily Grants,

not to be missed, Daily Market Bulletin, which, by the way, is yours merely for the asking.

Please do sign up for it on the Grant's website.

And to my left, as always, is Eric Whitehead of the controls.

And this episode of Grants on the air is brought to you by a LinkedIn Learning, and it is brought to you by another podcast called

Money for the Rest of Us. So a podcast sponsoring a podcast. I guess that's like a new economy.

Anyway, it's a pleasure to have both of our sponsors with us. Evan, you know what we're going to

talk about today? We're going to talk about the TikTok of time. We're going to talk about the elapsed

time between perception and payoff. And you know how long

that can be? A week? 20 years or so. Yes. In fact, we're going to talk about three episodes in grants.

The long sometimes-storied history of grants, we've got three discrete episodes we want to bring to your attention.

One is the matter of general electric, much in the news. The second has to do with the notorious mortgage-backed securities structures, the CDOs,

other such science projects of 2006.

And the third is, what's the third, I think?

Valiant Pharmaceuticals.

Yeah.

That was Evan Lorenz's project, most successful one.

It was at length, right? It was not... We go to a lot of trouble to write these stories. And having written him, we expect Mr. Market to reciprocate with a little bit of positive reinforcement.

Is that too much to ask, Phil?

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