Well, w- I could spend all day just going through who phones and who doesn't phone, but maybe you could just pick out-

Well, pretty mu- well, I'll tell you what happened was that in about 2004, end of 2000 and, yeah, end of 2003, all the, the, the US, US investment banks suddenly realized that our business, this thing that I was referring to earlier on where, where every listed company had to have a, uh, a broker assigned to it was called corporate broking.

And it, it's a kind of UK, um, idiosyncrasy.

And the big US investment banks who had by this stage bought up the remnants of the UK industry and dominated the city, they'd always dismissed corporate broking and they thought, "Well, this is just some kind of British thing that we can ignore and it's gonna fade away because, you know, we're going to move the market into, you know, Americanize the market." Anyway, it, it didn't happen and I think around about the end of 2003 all the US investment banks twigged that actually the people who had the best relationships with the senior management of UK PLCs were the corporate brokers.

So they thought, "We're gonna get into corporate broking." So, uh, I'm, I'm trying to remember the sequence but I mean I think, you know, Morgan Stanley did a big raid on Hoare Govett who were one of the b- and they, uh, even Goldman, you know, Goldman Sachs started to set it up.

Merrill Lynch had been building a corporate broking business.

So, um, [clears throat] they all, they all flooded as they often do.

To be selling at a price in 2009 which is not dissimilar to 2007 is quite something.