well of course, many have hit their bogies. it just didn't look like they would in advance. market has surprised on the upside for the last 10 years. but now, as you pointed out, one of our big activities is high-yield bonds. a year ago, they were yielding in the threes of percents. one deal was even done in the to this. that's not a very high-yield. as you say, the guild is in the sevens. a pension fund that needs seven can make use of high-yield bonds. you know, when everybody gets concerned when prices decline. but if you flip that over, the flipside of price deterioration is increases in prospect of returns. now the prospective return is higher than they were just a little while ago. and again, a much better climate for the bargain hunter. >> some people say inflation takes a lot of the value out of those returns. that basically on a real basis, you are still not getting very much. how do you counter that as a long-term investor? at this point, it's worth it to get higher returns even if it's not necessarily that much more. >> you're right. we are not talking about an in

of course, many have hit their bogies, it is just an advance of what they would. stock market and other things have surprised on the upside for the last 10 years. one of our big activities is high-yield bonds. a year ago they were yielding in the 3%'s. one deal was even done in the 2's. today, yield is in the 7's. a pension fund that needs that can make use of high-yield bonds. everybody gets concerned when prices decline. but if you flip that over, the flipside of price deterioration is increases and prospect of returning's. perspective returning's on many asset classes are higher than they were just a little while ago. again, much better climate for the bargain hunter. lisa: somewhat counter this by saying inflation takes a lot of value out of those returns. on a real basis you are still not getting much. how do you counter that as a long-term investor by saying at this point it is worth it to get higher returns, even if on a real basis, it is not much more? howard: you are right we are not talking about an increase in real returns, nominal returns. most organiz

well, of course many have hit their bogies. it just did not look in advance like they would.tock market and many things have surprised on the upside for the last 10 years. but now, as you point out, one of our big activities is high yield bonds. a year ago they were yielding in the 3%. when deal was even done in the 2%. that is not a very high yield. today, as you say, the yield in the 7%. a pension fund that needs 7% can make use of high-yield bonds. you see, when everybody gets concerned when prices decline, but if you flip that over the flipside of price deterioration is increases in perspective returns. now the prospective returns are higher than they were just a little while ago, and, again, a much better climate for the bargain hunter. >> people would counter this by saying inflation takes a lot of the value out of those returns, that on a real basis you are not getting very much. how do you counter that as a long-term investor by saying, at this point it is worth it to get higher returns even though it is not that much more. howard: you are right. we are not talking ab

bogi said that he was a couple of kilometers ahead, something did not look like. where does he go?agheera is dad, you are a bison, you see, dense. well, bison, i don't see something. don't go out of touch. we'll look at the record. here he turned, zelenka is dense, you see, and more i didn’t leave, apparently, the car left you there , a small village, dense vegetation. where are you? what are you doing? man? what are you? dad, we found a bison. he seized the car driving through the village in the direction of the southeast. there is an exit to the serpentine, apparently heading there. be careful. he just killed a man he has nothing to lose. should i take it out alive? how many times have i told him a woman will destroy you. here, where is he? wait, wait, maybe he'll come the last time he called me, he said that he had some kind of specialists the hunt was opened. oh well, don't like it. i do n't like it all. i'll call the person. will he know. what are you thinking of doing next? i'll connect dakar . maybe osman's phone is not working. if he hasn't thrown it away yet. don't want yo

in europe, on the territory of the square, there are four bogies and mastiska changing points on therder with poland, they can serve 46 wagons per day in the spring on the border with hungary, 30 in hell sit on the border with romania. another 40, together with foreign transfer points, can pass no more than 175 wagons per day, on average, about 70 tons of grain is placed in each wagon. that is, a maximum of approximately 12,000 tons can be withdrawn per day to transport a million tons, it will take 2 1/2 months to export 20 million. in this way, it will take several years, of course, russia is to blame. the russians saw these blocking exports, but for some reason in the west no one says that problems with the export of grain in ukraine did not arise today. here is the headline in the ukrainian agrarian magazine grain, the article was published back in 2016, wagons are routes, and there is nothing to carry grain, we quote the words of the editor-in-chief. after all, how is the average owner built if he has accumulative railway tracks in order to form a route of 54 wagons along 70.000

the wheel, when it interacts, is permissible with a rail or is used with brake shoes, as on other bogiesreased accordingly. end-to-end efficiency, in order to raise it to strengthen the wheel, but if we simplify the wheel, we must simplify, frogs, everything is interconnected. you can say with your students that the wheel is still capable of many things that can surprise us. of course, i have already bought sunflower oil and not only bought it, but even spilled it. those who read bulgakov’s novel master and margarita will understand what is at stake. meanwhile , berlioz was unlucky, apparently he did not study the trilogy, by the way, you also encounter it when you rub the parquet or smooth surface. now its three ballugs are a branch of physics involved in research the contact interaction of solid deformable bodies during their relative movement, science claims oil, spilled friction on rails reduces friction, and sand, on the contrary, improves adhesion , you know. if there was no friction, you would not be able to walk on the surface of this building just to fall, well, due to the coeff

one-stroke lead at 18, but then we have been there, runs into trouble on the bunker shot, and double bogie for 3 under, and one behind will zalatoris, and matthew fitzpatrick. and now, the light thing is looking to tie the series with the avalanche, and the only good news nor defending champ is that it is a seven-game series, because they were crushed by a figurative avalanche last night. darren helm had that goal, one of seven, to take a 2-0 series, and game three is monday. >>> soccer now. the quakes are on the road taking on real salt lake, and the 81st minute, a header for the quake, and then another. this is a score as real salt lake wins 2-0, and the record drops to 3-6-7. >>> intriguing acquisition for the san francisco giants yesterday. they add yurmi mercedes who is the feel good story last year with the rookie of the year honors. and yesterday's game, the middle game of the three-game set in pittsburgh, and the fifth inning, the giants down two, and nevermind, one, and austin slater with a big flier over the wall, and fourth shot of the season. and now the giants are up one, and

and will the overo the capitalh leader is in gee chun and a double bogie here, and lexi thompson is one of the players after her, and, hey, lexi, how about a fresca at 15, and she is 5 under within three shots of chun in the final round later today. and the fellows, third round of the travelers championship in connecticut, and here is leader xander schauffele, and track this one, as it is settled right near the cup for a tap-in birdie. but you know what, the playing partner was patrick cantlay, and look at what he did on his shot. but you know, these guys are good. he got inside of schauffele's shot, and the leader is cantlay by a single shot over schauffele. with a final round later on today. now, money has been no object for the warriors and the team brought in three draft picks friday, and guy santos, and they jumped up to get baldwin who is the first-round pick who played for his dad at milwaukee, but the injuries limited him to 11 games last season, but when he was inthere, he stephle o pl, >> it was definite. spontaneous, and you know, in the moment, i had no clue what i was doing

he would tap-in for one of the seven birdies on the day, and shot a bogie-free 85, and now a sole leader course, you can watch the final round right here on kpix. that is going to do it for sports this morning and have a great rest of the day. >>> the president of ukraine is making a direct appeal to the city of san jose and what he is asking the city leaders to do. >>> did you know that flying the pride flag is illegal in 70 countries, and we will show you what people across the country are doing to fight back. i've lived in san francisco for 20 years. i'm raising my kids here. this city is now less safe for all of us. chesa boudin is failing to hold repeat offenders accountable. he prosecuted zero fentanyl drug dealing cases, even though nearly 500 people have died of overdoses. i'm voting yes on h to recall chesa boudin now. we can't wait one more day when people are dying on our streets. oh, wow barbara corcoran! good morning. sorry, but we don't need any business help now. we're gigillionaires. what? we're gigillionaires now. i don't get it we have at&t business fiber with hyper-gig

in europe, on the independent territory, there are four bogie change points yagodiny and mastica on thend can serve 46 wagons per day, if on the border with hungary 30 in adul siret on the border with romania another 40 , together with foreign change points, it is possible to pass no more than 175 wagons per day on average, each wagon holds about 70 tons of grain. that is, a maximum of about 12,000 tons per day can be withdrawn . it will take 2.5 months to transport a million tons. it will take several years in this way, of course, russia is to blame. the russians saw these blocking exports, but for some reason no one in the west says that problems with the export of grain in ukraine did not arise today. here is the headline in the ukrainian agrarian magazine grain , the article was published back in 2016 wagons routes, and there is nothing to carry grain, we quote the words chief editor. after all, how is an average owner built if he has accumulative railway tracks in order to form a route of 54 wagons of 70,000 kg each. how long does it take to load 70 tons if an hour, then such an ow

it is necessary to change bogies and wagons. well, it's just a matter of a few hours and that's it., the simplest is export through the territory of belarus, the easiest and cheapest, because from there immediately to the ports of the baltic states and the baltic sea and further to any point on the planet, but for this it is necessary to lift sanctions from belarus. this is not our question. yes, in any case, uh, the president of belarus and so on considers the question exactly, and if someone wants to solve the problem, if it exists at all, the export of ukrainian grain, please, the easiest way is through belarus. nobody interferes, right? so there are no problems with export from ukraine , and which are under our control. what conditions can be, no conditions, please, we will ensure peaceful transportation, guaranteeing security, and we will ensure the entry of foreign ships to these ports and their movement along the baltic sea of ​​azov in any direction along the black sea of ​​azov, i cannot but ask. you, by the way, a lot of very sushi is stuck in e. today ukrainian foreign do

many have hit bogies, it just did not look in advance like they would.rised on the upside for the last 10 years. now, one of our big activities is high-yield bonds. a year ago, they were yielding industries, one deal was done in the twos. today, the yield is in the sevens. a pension fund that needs seven or seven and a half can make use of high-yield bonds. when everybody gets concerned when prices decline, but if you flip that over, the flipside of price deterioration is increases in prospective returns. now the returns are higher than they were just a little while ago, and again, a much better climate for the bargain hunter. >> people would counter this by saying you are not getting very much. how do you counter that by saying it's worth it to get higher returns even if it's not necessarily that much more? >> we are not talking about an increase in real returns, we are talking about an increase in nominal returns. that is a challenge. nobody knows what inflation is going to do. i think i heard one year your previous guests said some of the inflation fa