Grant’s Current Yield Podcast

GROWTH AND PROFITABILITY Nov 20, 2024

With special guest Dev Kantesaria, founder and portfolio manager of Valley Forge Capital Management.

NOT SO GOOD NEWS Oct 18, 2024

With special guest Lakshman Achuthan, co-founder of Economic Cycle Research Institute.

LONG IN THE TOOTH Sep 16, 2024

With special guest Dave Breazzano, head of credit at Polen Capital.

THE NEXT MELTDOWN Aug 06, 2024

With special guest Richard Byrne, president of Benefit Street Partners.

INTERNATIONAL VALUE MYSTERIES Jul 10, 2024

With special guest David Samra, managing director of Artisan Partners.

A COMPELLING MODEL Jul 03, 2024

With special guest Shaun Usmar, founder and CEO of Triple Flag Precious Metals Corp.

UNRECOGNIZED LOSSES Jun 26, 2024

With special guest Paul Kupiec, senior fellow at the American Enterprise Institute.

MANIFESTATION OF EARNINGS Jun 12, 2024

With special guest Bob Robotti, president and CIO of Robotti & Company Advisors.

A MATTER OF PERSPECTIVE May 17, 2024

With special guest Sean Fieler, president and CIO of Equinox Partners.

INNER WORKINGS May 08, 2024

Behind the scenes at Grant's with Jim, Evan and Phil.

OPPORTUNITIES IN COMEUPPANCE Apr 29, 2024

With special guest Dan Zwirn, CEO and CIO of Arena Investors.

The ABCs of CLOs Apr 03, 2024

With special guest John Kerschner, head of U.S. securitized products at Janus Henderson Investors.

THE BUSINESS OF INCOME Mar 20, 2024

With special guest Daniel Peris of Federated Hermes.

INFLATIONARY INSURANCE Mar 08, 2024

With special guests Steve Virgili and Steve Shapiro of New Vernon Wealth Management.

AROUND THE BEND Feb 22, 2024

With special guest, Alex J. Pollock, a senior fellow at the Mises Institute.

BIG THINGS COME IN SMALL PACKAGES Dec 20, 2023

With special guest Mario Cibelli, managing partner at Marathon Partners Equity Management.

A CURRENCY AFFAIR Dec 14, 2023

With special guest Brent Donnelly, president of Spectra Markets.

MURDER BY HIGHER RATES Dec 01, 2023

With special guest Jim Bianco, president and macro strategist at Bianco Research.

THE WORLD'S RUNNER-UP Nov 02, 2023

With special guest Shehzad Qazi, managing director of China Beige Book International.

DIVING INTO A SCAM Sep 20, 2023

With special guest Zeke Faux, the author of "Number Go Up: Inside Crypto's Wild Rise and Staggering Fall."

ABSOLUTLEY INADMISSIBLE IDEAS Aug 02, 2023

With special guest Martin Hutchinson, author of The Bear's Lair.

DISTRESSED DEBT EXPERTS Jul 19, 2023

With special guests David Aviram and Ted Martell, co-founders of Maverick Real Estate Partners.

VALUE RESTORATION PROJECT Jul 12, 2023

With special guest Seth A. Klarman, CEO of the Baupost Group.

NO LEARNING, ONLY CYCLES Jul 06, 2023

With special guest Douglas J. Lucas, creator of Stories.Finance.

SOME OF THE OLD TIME RELIGION Jun 22, 2023

With special guest John D. Spears, Managing Director of Tweedy, Browne.

NO EQUITY IN EQUITIES Jun 06, 2023

With special guest Martin Fridson, CIO of Lehmann Livian Fridson Advisors.

DISPATCHES FROM THE OPPOSITION May 25, 2023

With special guest Dan Rasmussen, founder and CIO of Verdad Advisers.

Non-linear returns Apr 28, 2023

With special guest Harley S. Bassman, managing partner at Simplify Asset Management.

SMALL CAP HUNTING Apr 13, 2023

With special guest Eric Cinnamond, co-founder of Palm Valley Capital Management.

VALUE IN THE REVILED Mar 29, 2023

With special guests Michael and Samuel Ashner of Winthrop Capital Partners.

Valuation, Demographics, Urbanization Mar 15, 2023

With special guest John Haskell, founder and chief investment officer of Atla Capital Management.

Market Neutral Returns Feb 28, 2023

With special guest, Jeremy Mindich, co-founder and managing partner of Scopia Capital Management.

Value in biotech Feb 07, 2023

With special guest, Marc Schneidman, the founder and CIO of Aquilo Capital Management.

Destruction of value Jan 19, 2023

With special guest, William D. Cohan, the author of "Power Failure: The Rise and Fall of an American Icon."

BEHIND THE SCENES Nov 04, 2022

Jim, Evan and Phil discuss how an issue of Grant's comes together.

Digital Landlords Sep 23, 2022

With special guest, Adam Simmons, the co-founder and president of Dgtl Infra.

The Right Information That Matters Sep 09, 2022

With special guests, Thomas Morton and Prem Nainani of Aplomado Advisors.

ALL THINGS TELECOM Aug 03, 2022

With special guest, Craig Moffett, renowned telecom analyst and co-founder of MoffettNathanson.

The Nature and Essence of Interest Jun 30, 2022

With special guest, Edward Chancellor, the author of "The Price of Time."

Making Markets Jun 13, 2022

With special guest, Doug Cifu, CEO of Virtu Financial.

Inflation! May 20, 2022

With special guest, Steve Forbes, the chairman and editor-in-chief of Forbes Media.

Real Estate 360 Apr 20, 2022

In conversation with Jonathan Litt, founder and CIO of Land & Buildings.

The 70% Club Apr 15, 2022

With special guest, Martin Hale, technology reinvention specialist and founder of Hale Capital Partners.

A King's Empire Mar 30, 2022

With special guest, Mary Childs, the author of "The Bond King: How One Man Made a Market, Built an Empire, and Lost It All."

Opportunities in commodities Mar 18, 2022

In conversation with Leigh Goehring and Adam Rozencwajg of Goehring & Rozencwajg Associates.

All About Privates Mar 11, 2022

With special guest, Omeed Malik, founder and CEO of Farvahar Partners.

The Restaurant Economy Mar 08, 2022

In conversation with John Hamburger, founder and president of Franchise Times Corp.

Exciting times in global macro Mar 01, 2022

With special guest, Octavio Costa, portfolio manager at Crescat Capital.

Meme stock mania Feb 22, 2022

In conversation with Spencer Jakab, the award-winning investing columnist and author of “The Revolution That Wasn’t.”

Unauthorized thinking Feb 09, 2022

In conversation with the leading green chicken, Doomberg.

Breaking the American economy Jan 17, 2022

With special guest, Chris Leonard, author of "The Lords of Easy Money."

Beneath the surface Dec 10, 2021

Special guest Dean Curnutt, founder and CEO of Macro Risk Advisors, joins this week's episode.

The insider's guide to operations Nov 23, 2021

With special guest, Scott Matthews, vice president of global operations at Hygiena, Inc.

When everything's absurd Sep 29, 2021

In conversation with, the comedian, Remy Munasifi.

The great startup delusion Aug 05, 2021

With special guest, Eliot Brown, co-author or "The Cult of We."

Short selling across the pond Jun 11, 2021

With special guest, Matthew Earl, managing partner and founder of ShadowFall Capital & Research.

A place for bonds? Jun 02, 2021

In conversation with Peter Chiappinelli of GMO’s asset allocation team.

Asymmetric returns in crypto Apr 23, 2021

In conversation with Paul Brodsky, managing partner at PostModern Partners.

Engine of Inequality Apr 09, 2021

With special guest, Karen Petrou, co-founder and managing partner at Federal Financial Analytics.

Tech phoenixes Mar 15, 2021

In conversation with Martin Hale, Jr., CEO and portfolio manager at Hale Capital Partners.

Real Estate after COVID Mar 11, 2021

With special guest, Michael Knott, head of U.S. REIT research at Green Street.

Deeper into the numbers Feb 23, 2021

With special guests, Tom Beevers and Jules Hull of StockViews.

All about SPACs Feb 16, 2021

In conversation with Julian Klymochko, founder and chief investment officer at Accelerate Financial Technologies.

Read the footnotes Jan 07, 2021

With special guest, Anthony Canale, global head of research at Covenant Review.

Real estate roundtable Nov 12, 2020

https://www.linkedin.com/company/urban-standard-capital/

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ESG 101 Nov 02, 2020

@MassifCap

https://www.linkedin.com/company/massif-capital

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Inflation protection that wins. Oct 16, 2020

https://www.linkedin.com/in/nancyquadratic/

https://quadraticllc.com

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Down South Oct 14, 2020

https://www.linkedin.com/in/john-haskell-092a118/

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As the world turns Oct 06, 2020

@businesscycle

https://www.linkedin.com/in/lakshmanachuthan/

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Dress rehearsal Sep 26, 2020

@GuggenheimPtnrs

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Value investing and jazz Sep 16, 2020

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Vacation delectation Aug 11, 2020

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Price, behavior and fundamentals: Where the rubber meets the road. Jul 29, 2020

https://www.linkedin.com/in/dean-curnutt-4060157/

@Dcurnutt

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Inflation station Jul 14, 2020

Prolific and prophetic Jun 24, 2020

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Yield curve, under control? Jun 04, 2020

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Bond fun May 27, 2020

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Class is in session Apr 29, 2020

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Love and youth and spring Apr 17, 2020

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The Grice Man cometh Apr 01, 2020

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What now? Mar 27, 2020

Your biggest mistake Mar 14, 2020

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Painting A Picture Mar 03, 2020

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The Empire Strikes Out Feb 28, 2020

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ESG, avert your ears Feb 25, 2020

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Picks and pans in biotech Feb 13, 2020

Joe Lawler, M.D., Ph.D. and fund manager, joins this week’s program. On the agenda: #Coronavirus and its potential impact, navigating the “haves and the have-nots.” Is this a golden age in drug discovery? Index investors: the parasites of #WallStreet, and, the scourge of “data curation.”

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Impossible is extinct Feb 07, 2020

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Public debt-does it matter? Feb 02, 2020

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Quick Change Jan 22, 2020

Investor and writer Tim Bergin calls in to discuss the risks and opportunities associated with our warming planet.

2:33 Climate primer and the risks of rising C02

7:17 What’s different this time?11:50 Assessing potential remedies

18:30 A cook’s tour of NIO, Inc.

24:13 Making sense of high short interest

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

The gold show Jan 22, 2020

Ronald Stoeferle, managing partner at Incrementum AG, calls in to discuss pressing monetary matters and to review the investment merits of the Money of Kings.

4:22 Institutional distrust means opportunity

11:34 Deflation and the U.S. dollar

18:14 The miners: a dismal past but a better future?

25:09 Gold and crypto, monetary cousins

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Home Alone Dec 27, 2019

Jim Grant delivers a holiday message and review of 2019 financial events. 1:15 The state of the world as 2020 looms. 7:45 All things cyclical 11:30 The repo hiccup and unscripted events. 17:15 UST margin demand: a product of unnaturally-low rates? Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Winter reading Dec 22, 2019

@AmitySchlaes, author of “Great Society: A New History,” stops by the office to discuss her new book.

http://www.amityshlaes.com

2:24 #BrettonWoods and the “bonanza”

8:50 Michael Harrington goes to Washington

13:10 Arthur Burns: A Greek tragedy

19:45 Presidential pressure on the Fed, then and now

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Around the horn Dec 15, 2019

Each analyst identifies a notable recent event. Jim provides a winter reading recommendation. 1:40 Dazed and confused 4:18 Crude oil and the VC market 10:24 Jim reviews “#1931” by #TobiasStraumann (shorturl.at/ioJS0) Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com.

Growth Market Dec 06, 2019

Don Coxe, chairman at Coxe Advisors LLP and commodity investor par excellence, calls in to discuss the latest in agriculture and its implications. www.coxeadvisors.net/

1:31 A contrarian look at the climate

8:38 An opportunity in natural gas?

14:07 The Maunder Minimum

17:20 A new commodity boom: Wither inflation?

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

It's a gusher Nov 22, 2019

Leigh Goehring and Adam Rozencwajg stop by the office to discuss opportunities in natural resources. www.gorozen.com 1:10 #Apple worth more than the entire energy sector 4:19 What’s happening with shale? 12:21 Tier-one wells on the wane 18:43 Bargains abound in energy Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

A short-seller in action Nov 16, 2019

In October 2017, Marc Cohodes unveiled a new idea to the Grant’s conference crowd. @AlderLaneeggs His remarks follow. 3:20 Free speech - for the bulls 18:58 Taking things personally 28:45 A common theme 35:12 “This is not a game” Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Let the analytics department pitch to Drumbowski Nov 08, 2019

Jim, Evan and Phil recap highlights from the Grant’s 2019 fall conference and discuss a recent sea change in the business environment. 1:49 #Uber, #Grubhub and business model limitations 6:20 Private equity’s smooth marks 10:45 Fair and foul, and foul fair 14:12 World Series postmortem 18:50 Balance sheet ignition Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Time to make the Donuts Oct 18, 2019

Twitter user @Donutshorts calls in to discuss his investment process, assess the world at large and identify some companies which may offer compelling opportunities on the long and short side.

0:55 Positioning in an “everything bubble”

6:15 WeWork and trouble in tier-one real estate

11:30 Low rates in the U.S., negative rates elsewhere. Convergence coming?

17:30 Opportunities and risks in the energy patch

20:20 Uber, unicorns and free money

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Goldfinger Oct 11, 2019

Rick Rule, president and CEO of Sprott U.S.A. Holdings, Inc., calls in to discuss the outlook for precious metals and offer suggestions on the best ways to invest. http://www.sprottusa.com @RealRickRule 1:26 A word from Lord Liverpool 5:30 Rick’s view of cryptocurrencies 10:57 How to buy gold? 14:30 The outlook for mining shares 20:48 “I just believe it goes higher”

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Don’t fear the repo Oct 03, 2019

George Selgin, director of the #Cato Institute's center for monetary and financial alternatives, calls in to discuss remarkable recent events in the banking system and the potential implications.

@GeorgeSelgin

1:21 A money market which fails to clear

5:45 Interest on excess reserves: Unintended consequences

11:24 Too much collateral = too much debt?

15:50 More QE on the way

20:10 Fixes to fixes to fixes

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Two for the price of one Sep 21, 2019

Bianco Research president and eponym Jim Bianco calls in to help us make sense of last week’s chaos in short term lending rates. Jonathan Tepper, founding partner at Variant Perception, assesses the commercial landscape and identifies potentially attractive opportunities. @biancoresearch @jtepper2 @VrntPerception 8:15 Why didn’t the banks arbitrage those high rates? 13:50 Excess reserves and post-crisis regulation 19:00 Corporate competition on the wane 24:20 Europe set for a rebound? Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

A conversation with the Dean of High Yield Sep 12, 2019

Marty Fridson, chief investment officer Lehmann, Livian, Fridson Advisors LLC and “One of Wall Street’s most thoughtful and perceptive analysts” according to the New York Times, stops by to discuss all things credit.

2:54 What’s new in high-yield and leveraged loans

7:30 Marty’s preferred income-generating assets

13:00 A garden-variety recession: Enough to spur widespread defaults?

19:24 Price controls, central planning and central banking

24:03 Can negative-yielding issuers default?

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

He begs to differ Aug 13, 2019

Tuomas Malinen, PhD (econ.) CEO of GnS Economics Limited and Adjunct Professor of Economics at the University of Helsinki, calls in to express his concerns with modern theory and practice.

2:00 Applying scientific principals to economics

6:24 Groupthink in action

13:10 Central banks and intellectual dissent

15:20 MMT: the endgame

17:32 Investment implications

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Jay versus the volcano Aug 04, 2019

Jim Bianco, president of Bianco Research, calls in to discuss the state of markets and central banking following Wednesday’s rate cut. @biancoresearch https://www.linkedin.com/in/james-bianco-117619152/ 2:25 Press conference post-mortem 8:01 Inverted yield curve: predictor of recession, or cause? 14:10 Negative rates on the way for the U.S.? 21:41 Jim’s interview at the Fed

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

The data couldn’t be clearer Jul 14, 2019

Jay Van Sciver, head of industrials at Hedgeye Risk Management, comes by to discuss opportunities in cyclicals, the state of the economy and some of our favorite profitless unicorns. @hedgeyelndstrls https://www.linkedin.com/in/jay-v-6740985/ 2:10 Decelerating growth and replacement demand 5:13 Jay’s preferred metrics 11:07 Why don’t Uber and Lyft make money? 15:38 Down on the farm 18:26 Jay’s favorite ideas

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Middle Kingdom microscope Jul 05, 2019

Carl E. Walter, longtime bank executive and coauthor of “Red Capitalism,” joins the program to discuss important recent happenings in China. 2:55 Reading the tea-leaves 8:12 Baoshang Bank: A small fish causing big problems 14:12 Hong Kong and the mainland 19:56 More stimulus on the way? 24:38 Swapping loans for bonds

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Freshly seasoned Jun 25, 2019

Dan Fuss, vice chairman of Loomis, Sayles & Company and fixed income investor extraordinaire, calls in to discuss the state of markets in 2019. @LoomisSayles www.loomissayles.com

https://www.linkedin.com/company/loomis-sayles-&-company/

https://www.facebook.com/pages/Loomis-Sayles/309712695756188

1:36 A rate-hike shock collar

8:12 Negative rates and the nature of safety

17:07 The 1984 bear market retest: Symmetry?

22:44 The “flow of funds phenomenon”

27:00 Dan’s positioning

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Research Triangle Jun 21, 2019

Rob Arnott, founder and chairman of the board of Research Affiliates, LLC, calls in to assess conditions and opportunities around the world.

3:47 “There’s no such thing as a bargain in the absence of fear”

8:53 Shiller P/E and central banks

13:06 Bubbles in a negative-rate era

20:13 Deficit spending: Does it matter?

24:36 The nature of indexation

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Into the plumbing Jun 11, 2019

Jeff Snider (@JeffSnider_AIP), head of global research of Alhambra Investments, calls in to discuss the workings of the modern financial system, and to offer his views on the best ways for investors to position themselves. 1:35 Eurodollars: What they are and why they matter

8:20 “There’s something wrong here”

14:55 Paul Volker and the bond bear market. A mirror to today?

18:02 Contrarianism and consensus

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Spring chickens Jun 05, 2019

Jim, Evan and Phil assess the state of play in high-yield credit, macroprudential regulation and an instructive recent op-ed in @WSJ.

1:40 #Trump and the USS John McCain

5:24 Do businesses need a rate cut?

10:26 An Aiful-ly low yield

16:16 Alternatives to raising rates

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Measuring the Middle Kingdom May 29, 2019

Christopher Balding, associate professor at the Fulbright University of Vietnam, calls in to discuss all things China.

@BaldingsWorld

1:43 Dramatic change in the air. Social credit risk

5:15 Economic growth, real and reported

9:25 “They are shorter on dollar liquidity than most people realize”

15:11 Huawei: What do we make of it?

23:18 Inflation vs. deflation

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Double decker May 23, 2019

A super-sized episode. Jim, Evan and Phil discuss the latest financial happenings. Sabrina Fox, executive advisor of ELFA Investor Group, details the challenges awaiting creditors in Europe’s loan and high-yield debt markets.

@freewheelingfox

https://www.linkedin.com/in/sabrina-fox-45b29b7b/

https://elfainvestors.com/

1:12 Unicorns: Where’s the beef?

11:06 This Compass points away from the profits

15:38 European credit, a bird’s-eye view

23:02 Covenant erosion on either side of the Atlantic

29:33 Information asymmetry and liquidity in the secondary market

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Distressed address May 13, 2019

Kent Collier and Sarah Gefter of credit research firm @Reorg call in to discuss the latest happenings in distressed debt.

www.reorg.com

@DDinvesting

3:51 2007, then and now

7:16 Taking inventory of the cycle

12:51 The J. Crew “trapdoor.” Innovation or gimmick?

18:02 Deteriorating accounting standards

20:38 Issues that might ring the bell

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

The name’s bond May 08, 2019

Andrew Park, senior editor at S&P Global’s LCD unit, joins Grant’s to discuss all things credit.

1:35 The current cycle: What’s different?

5:45 CDOs in 2008 and CLOs today. Similarities and differences

12:01 Promised acquisition strategies: Dreams don’t always come true

15:55 Credit managers need new supply, and borrowers happy to oblige

https://www.spglobal.com

https://www.linkedin.com/in/andrew-park-1b87642/

https://twitter.com/apark_

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Around the world in 20 minutes Apr 30, 2019

George Friedman (@GPFutures), founder and chairman of Geopolitical Futures, calls in to discuss global goings-on and their potential investment implications. Jim identifies a potential long-term inflection point. 1:17 Germany’s upside-down banking system 7:29 Bad loans: A Chinese specialty 9:45 What to expect 90 years out? 14:28 The “Time Magazine indicator”

.@GPFutures

https://www.linkedin.com/in/georgefriedmangpf/

https://www.facebook.com/GeorgeFriedmanGPF/

‏

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Hedging and hedge funds Apr 08, 2019

Barclay Leib (@btl0823) founder and principal of Sand Spring Advisors, LLC, comes by the office to discuss asset allocation, forensic accounting and Wall Street history.

1:44 Rules for selecting fund managers

5:40 Where does “edge” come from?

8:18 Fun and games in fund returns

12:17 The famous Hunt brothers trade

18:30 Unfavorable prices? Regulate them away

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Fed ahead Mar 24, 2019

Jim, Evan and Phil break down the watershed FOMC meeting this past week. Jim provides his updated reading list. 1:00 A startling announcement 5:15 2003 redux 10:08 E-Z money in the #economy 15:30 “Tools” and “frameworks” and “challenges” .@federalreserve

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Investor's Business Mar 12, 2019

Michael Schaus, director of market research for Brenton Point Wealth Advisors LLC and Zweig-DiMenna, stops by the office to discuss the current outlook and to remember the great investor Martin Zweig.

https://brentonpoint.com/ 1:37 The European Central Bank takes it easy

6:40 Negative interest rates, back in vogue

12:39 Market cap to GDP: An useful indicator?

20:50 Weighing stock picking vs. macro

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Spring training Mar 05, 2019

Jim and Evan discuss the latest monetary happenings, the retirement of a Wall Street legend, and a little baseball.

1:17 The Fed’s listening tour and William McChesney Martin

8:20 Inflation catch-up

12:45 “A lack of dynamism”

13:00 Bill Gross and the Bank of Japan

.@federalreserve

.@bank_of_japan_e

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It’s all relative Feb 22, 2019

Jim and Evan discuss recent happenings, with European credit and banking in focus.

1:32 French 30-year sovereigns offer “solid yields.”

3:40 Deutsche Bank, the big sick puppy

9:19 European banks and the so-called capital relief trade

10:45 Memorializing Dodgers great Don Newcombe

11:51 Amazon.com’s puffer jacket

.@DeutscheBank

.@Amazon.com

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Take 5 Feb 17, 2019

As Japan marks 20 years of ultra-low rates, Jim and Phil take a look at monetary policies around the world. Jim shares his current reading list. 1:47 How long's secular? 3:50 Negative interest rates: a compendium 10:36 Grant's book club 14:57 The Fed's solvency, or lack thereof

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Bullion base Feb 02, 2019

Simon Mikhailovich, lead manager of the Tocqueville Bullion Reserve, stops by Grant's world headquarters to discuss doing business in the modern administrative state. 4:17 The "menacing" language of compliance 9:30 #Gold, negative-yielding bonds and safety 16:53 Jim's reading list .@S_Mikhailovich www.bullionreserve.com

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The Great Repression Jan 23, 2019

Russell Napier, independent strategist and co-founder of the Electronic Research Interchange, joins the program to discuss the state of financial markets and his thought-provoking recent essay in the Financial Times.

3:18 “There’s a global monetary system?”

6:06 Central bank credit and “the savings glut”

11:28 Treasury yields: The world’s most reflexive asset class

18:35 ”The People’s Bank of China can inflate the whole world”

https://www.facebook.com/financialtimes/

https://www.eri-c.com/

https://www.linkedin.com/in/russell-napier-81292846/ https://www.linkedin.com/company/financial-times/

@ERICresearch @FinancialTimes

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Is the Fed broke? Jan 17, 2019

Alex J. Pollock, distinguished senior fellow at the R Street Institute in Washington and former president of the Federal Home Loan Bank of Chicago, calls in to discuss the state of our central bank’s own finances. @RSI @FHLBC

3:07 Unrealized losses and the printing press

6:27 Treasury issuance and the Fed

9:45 Negative capital. Does it matter?

15:55 Partially paid-in capital; echoes of the banking partnerships of old

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Winter warm up Jan 12, 2019

The usual suspects discuss an array of financial happenings, while Jim recaps a recent Grant's field trip. 1:20 Economists and diversity 7:31 @McDonalds franchisees; they ain't lovin' it 10:51 Buffalo bash 16:17 New year, new ideas? Subscribe to the Grant's Current Yield Podcast on iTunes, Stitcher, iHeart Radio, Google Play Music or listen from our website, www.grantspub.com

By the bushel Dec 07, 2018

Keith Bronstein, commodities guru and president of TradeLink Holdings, LLC, calls in to discuss futures, interest rates and his latest big idea.

2:12 An opportunity in #eurodollar futures?

9:50 No-bid futures and modern finance

13:25 “Instability isn’t considered instability when prices rise”

20:01 Assessing the #Fed’s next moves

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Bull markets are more fun than bear markets Nov 20, 2018

Bob Farrell, longtime Merrill Lynch head of research, celebrated market technician and author of the widely cited 10 Rules for Investors, calls in to share his insights with Grant’s.

2:21 What’s changed, and what’s the same

6:40 “Excesses in one direction lead to excesses in another.” Does that apply to interest rates?

11:20 Capital allocation strategies in a lower-return environment

16:49 Buy and hold and cyclical fluctuations

20:13 Contrarian ideas right now

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Curated content Nov 13, 2018

Wendy Battleson, co-founder and principal of Art Strategy Partners, shares her expertise on the state of the market and its connection with other asset prices

1:48 Banksy’s self-destruct button

6:10 Guaranteed bids – for a fee

11:21 Inflation in Warhol’s

17:16 The art market; an extension of Wall Street?

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Read the fine print Nov 05, 2018

Michelle Leder, reporter and founder of Footnoted.com, stops by to discuss recent trends in corporate accounting and the regulatory environment. @footnoted

0:55 Accountants: Who needs them?

2:54 “Terms and conditions may apply”

10:48 Corporate shortcuts and the S.E.C.

13:12 The things that corrections correct

Click here to read Harvard Business Review article "Why we need to update Financial Reporting for the Digital Era".

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Monopoly money Oct 31, 2018

Jonathan Tepper, founder of macro research firm Variant Perception and author of The Myth of Capitalism, calls in to discuss the rise of corporate monopolies and its implications. @jtepper2

1:24 The Myth of Capitalism and Amazon.com, Inc.

6:08 The beer industry, duopolies and innovation

10:14 Low interest rate policy and the rise of #cartels

15:31 The “big pendulum” of anti-trust policy and the FAANGs

20:30 Buybacks and underfunded pensions

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Tomorrow’s sales today Oct 29, 2018

Chris Whalen, publisher of the Institutional Risk Analyst and financial industry expert, stops by the office to discuss the economy, credit and the Fed. @rcwhalen

1:22 The banks, as safe as a house?

6:51 A tightening Fed and profits

10:55 Rising credit costs coming down the pike

6:48 Leveraged loans, then and now

20:04 Goodbye, wealth effect

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The other side of the boat Oct 22, 2018

Dean Curnutt, founder and chief executive officer of Macro Risk Advisors, joins Grant’s to talk markets, volatility and anticipating the future. @Dcurnutt

1:42 Today and 2017, have things changed?

5:52 #Gold, the anti-S&P

11:23 Risk parity and trend followers: The next step

19:50 Opportunities in cyclical #stocks

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Traffic signals Oct 15, 2018

Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, joins the cast of characters to review pertinent signals in growth, interest rates and inflation.

4:48 The future path of inflation

9:34 Keynes and the 1960’s

12:36 An interest rate surprise?

17:03 Financial repression and conventional indicators

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Kevin Warsh, former Federal Reserve governor. Oct 09, 2018

Kevin Warsh, former Federal Reserve governor and distinguished fellow at the Hoover Institution, pays Grant’s a visit to discuss the state of the world and markets.

1:55 Making sense of the move in bond yields

6:20 The Fed and the market. Who’s in charge?

11:41 Generation-length trends in interest rates

20:07 David Hume, corporate profits and interest rates

23:23 The evolution of money

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Mix and match Sep 26, 2018

Jim, Evan and Phil hold forth on the topics of the day.

0:51 Profits and interest rates

7:48 Inflation, the very long view

9:51 Human achievements and #financial cycles

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The path to a crisis Sep 14, 2018

Dan Gertner, Grant’s alum in the run-up to and the midst of the 2008 crucible, comes back into the fold to review those years of excess and subsequent panic.

1:27 An email from Alan Fournier

7:30 A memorable lunch meeting

12:45 Parallels to the present day

19:10 Refinitiv: The largest leveraged buyout since the #crisis

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Emerging value Sep 07, 2018

John Haskell, head of research at Explorador Capital Management, joins Grant’s to assess opportunities in the particularly beaten down realm of emerging markets.

2:01 Where’s the value?

6:45 Argentina, bottom up investing under macro duress

10:43 Other opportunities in South #America

15:30 Implications of a bearish reversal in the U.S.

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Current yield Aug 31, 2018

Tony Canale, global head of research at Covenant Review, joins Grant’s to discuss what’s new in credit.

1:25 New laws in #Delaware and the J. Crew trapdoor

7:17 Overlooked risks for #corporate creditors

11:16 Triple-B, the frontier of #junk

17:30 Cycles, #fear and overconfidence

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Summer Vacation episode Aug 13, 2018

The usual suspects hold forth on a variety of financial topics, while Jim shares some of his favorite current books.

0:55 What’s happening this fall

2:25 #Gold has no friends

5:50 Yield curve: Predictions, theory and history

7:12 Beach reading, Jim Grant style

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The battle of the interest rates Jul 30, 2018

Richard Sandor, chairman and CEO of the American Financial Exchange and the Father of Financial Futures, joins Grant’s to help us make sense of the major changes that are coming to the world financial system.

1:32 What’s wrong with #Libor?

8:10 The Secured overnight #financing rate: Is it an improvement?

14:54 A potentially fraught transition from Libor

18:23 The role of #collateral

22:40 Milton Friedman, flexible exchange rates and the #gold standard

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Summertime and the living is easy Jul 19, 2018

China, the leveraged loan market, Netflix and the Los Angeles Dodgers utility-man (why not?) headline another scintillating investment discussion.

0:00 “Maximum” Max #Muncy and value investing

1:53 Cracks in the #China facade

5:19 Debt or equity? The #Netflix conundrum

11:05 Humphrey Hawkins redux and #crypto invades the CFA

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Mix and match Jul 09, 2018

Jim, Evan and Phil discuss the world’s various points of pressure, and provide a few other trenchant observations.

1:05 The Declaration of Independence gets unfriended by #Facebook

3:52 HNA, #China and the world

7:02 Italy’s populists and the #European Central Bank

11:28 U.S. junk #bond yields on the move

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Nobody knows nothin’ Jul 02, 2018

A Grant’s variety pack: Jim, Evan and Phil hold forth on an array of topical financial matters.

1:36 North Korea, AT&T and the future

5:10 A July 4 message from Thomas Jefferson

6:08 Changes in #China

13:55 Corporate buybacks and corporate debt

15:10 Crypto carnage

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It’s a bubble eh? Jun 18, 2018

Seth Daniels, founding partner of JKD Capital, LLC, and Ben Rabidoux, president of North Cove Advisors, join Grant’s for a thorough analysis of the Canadian housing market and the potential consequences of a downturn.

1:42 Housing: Canada’s #economic engine

5:50 Parallels to the U.S. experience

10:00 Mortgage #fraud and bad actors

15:05 What sort of opportunities are available for #investors?

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The Tesla episode Jun 11, 2018

The indomitable Montana Skeptic (@MontanaSkeptic1) joins Grant’s for a hearty discussion of the most polarizing car company in the world,

1:51 Is a “supernova” third quarter in the works?

3:54 The basic #bear case

7:49 #Model 3 reservation holders: What now?

13:26 The lawyers circle

16:14 Montana’s overall #investment approach

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Read the footnotes Jun 04, 2018

Francine McKenna, (@retheauditors) transparency reporter at MarketWatch, joins the regular cast of characters to discuss auditing and accounting trends, and their crucial role for investors.

4:07 What do investors get wrong about #financial statements?

8:41 Auditors do not draft financials

13:49 Are certain #law firms more likely to push the envelope?

19:48 Do auditors have a fiduciary duty to #investors?

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Surf and turf May 21, 2018

Jonathan Tepper (@jtepper2), chief editor of Variant Perception, and @John_Hempton, chief investment officer of Bronte Capital Management, share their macro and micro expertise on corporate concentration and corporate fraud.

2:09 How do managers contend with increasing industry consolidation?

8:51 “A time of #disruption”, while barriers to entry rise

12:04 Summertime for corporate #fraud

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Loan sharks May 14, 2018

Adam Cohen, founder of Covenant Review, joins Grant’s for an insightful overview of our loosey-goosey credit market.

1:20 “Read the footnotes,” then and now

8:41 Where is the danger for lenders?

13:54 Potential consequences of widespread cov-lite

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Theory and common sense Apr 23, 2018

Steven D. Bleiberg, managing director and portfolio manager at Epoch Investment Partners, Inc., joins the regular cast of characters for a lively discussion of modern portfolio theory and its limitations.

2:50 What is a stock, a portfolio, the #market?

6:20 The theory is now #reality

11:05 #Risk, asymmetry and indexing

14:33 Profit and the cost of #capital

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Financial fulcrums Apr 09, 2018

Jim Bianco, president of Bianco Research, LLC, joins the team to talk bonds, the Fed and much more.

1:00 Where are #rates going?

5:51 The #Fed and the Heisenberg principle 11:07 Potential consequences of a decade of interest rate #price control 15:10 The significance of a three percent 10-year #yield

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Free money is the enemy of free markets Apr 02, 2018

David Stockman, director of the Office of Management of Budget under President Reagan and master of mazy budgetary arithmetic, joins Jim and Evan for a scintillating discussion of fiscal and monetary matters.

0:00 The #Simpsons foreshadowing

3:20 Deficits and #debt monetization. What’s the harm?

9:01 Requiem for a #bond bull market

15:30 Sell what the #central banks are selling

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The stuff’s really not good for you. Mar 28, 2018

Jim, Evan and Phil revisit Grant’s 2017 bearish analysis of Facebook, with historical analog.

2:05 “Sell #Coke” 1996

6:06 Paul Fusselll and #human folly

10:41 Where do we stand now?

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An epic epoch Mar 26, 2018

Biff Robillard, president and co-founder of Bannerstone Capital Management, LLC, joins the team to share his insights on the markets and investors’ state of mind.

1:40 Major changes are afoot

5:18 Rough road ahead for the #dividend aristocracy

9:05 #Pricing power, who has it?

14:55 Lack of #investor enthusiasm

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Brain box Mar 19, 2018

Ed Yardeni, President of Yardeni Research, Inc. and author of Predicting the Markets, A Professional Autobiography, joins Jim for a lively discussion.

1:52 Interest #rates, then and now

4:11: “The #bond market has been rigged”

7:22 #Inflation is the big risk

12:08 Has #macroeconomics succeeded?

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China doll Mar 12, 2018

Jim, Evan and Phil discuss the latest happenings in the Middle Kingdom and around the globe.

1:17 The People's Republic of #Debt

3:17 #Zombie bond market for zombie companies

7:10 ECB scorns #tariffs, buys bonds

13:09 The perils of #social media

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The rates puzzle Mar 05, 2018

Stephen Stanley, chief economist and Xavier Negroni, co-head of the finance desk at Amherst Pierpont Securities, join the Grant’s team to try and make sense of the jump in short rates, while speculating on the Fed’s next move.

2:17 The mighty #dollar is getting no respect

6:48 The Feds Powell debuts in front of #congress

8:30 What are #credit spreads telling us?

11:15 "#Investors have lots of choices"

17:00 Stephen forecasts the 2018 #rate hike regime

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Index orphans Feb 05, 2018

Jon Boyar, president of Boyar Research, joins the team to discuss opportunities in U.S. equities that are not eligible for the major indices.

1:45 Jon’s approach to finding #value

5:40 Patience is a virtue

11:55 Jon’s investment process and a few of his favorite #stocks

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Blockchain, what is it good for? Jan 22, 2018

Kai Stinchcombe, co-founder and CEO of True Link Financial, joins the team to discuss his recent article questioning the utility of the supposedly-groundbreaking software for digital assets.

2:07 The case against the #blockchain

4:14 A costless and decentralized form of exchange: #Cash

4:45 #Bitcoin conference doesn’t accept bitcoin

7:17 #Ripple and international payments

12:28 “Here’s your #libertarian paradise, have a nice day”

21:15 It works somewhere else!

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Electric Slide Jan 16, 2018

Mark B. Spiegel, managing member at Stanphyl Capital, joins the team to discuss his favorite ideas, long and short.

2:47 #Tesla, a love affair in reverse

6:40 Opportunities in the nano-cap realm

10:02 Fewer public #companies. Less value?

12:13 Mark’s thoughts on agricultural #commodities

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Periodical table Jan 01, 2018

Porter Stansberry, founder and editor of Stansberry Research, joins Jim for an enlivening conversation about the business and financial world at large.

1:33 What do people want to do with their money?

5:08 1999 and today

8:01 The #bitcoin pitch

12:48 Where is the #value?

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Grant's Holiday Episode Dec 25, 2017

Jim wraps up a most unusual 2017 and looks forward to the year to come.

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Realty Show Dec 20, 2017

Andy McCulloch, head of Real Estate analytics at Green Street Advisors, gives Grants the lay of the land.

1:18 Does the "everything bubble" include RE?

4:44 Breaking down the #Westfield acquisition

13:02 Cheap financing in #Europe and international arbitrage

16:24 "What would #Buffett buy?" CapEx creates mispricings

21:21 Current attractive opportunities

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Is China a Ponzi scheme? Dec 11, 2017

Grant’s welcomes Victor Shih, associate professor at The University of California, San Diego, to discuss that crucial question.

0:40 The #Steinhoff Saga

6:47 Is #China set up for near term financial calamity?

9:12 Debt service rising faster than #GDP

13:13 We owe it to ourselves

17:30 Economic rebound ahead of the #19th Party Congress

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Value Hunt Dec 06, 2017

JHL Capital Group chief investment officer James Litinsky joins Grant’s to share his views on opportunities and risks around the world.

0:56 #India: Country of the future?

4:50 Current opportunities after a strong #rally

8:18 How to play late cycle in the #U.S.

10:47 The most vulnerable financial #assets

14:34 How much #cash to hold?

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Things you don’t see at bottoms Nov 27, 2017

Special guest Bill Fleckenstein joins the Grant’s team to take inventory of current conditions

1:35 Triple-B-rated #bonds yielding less than zero

5:43 #Bitcoin and the apocalypse

7:28 #Tech, then and now

12:34 #Trump and volatility

15:52 What’s different this time?

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The tick-tock of time Nov 22, 2017

A lively discussion of the sometimes-lengthy wait for investment ideas to come to fruition

1:53 #GE in 1990

7:50 Mortgage #bonds in 2006

11:52 Valeant #Pharmaceuticals in 2014

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Buying low and selling high: A How-to Nov 10, 2017

Jim and Evan welcome special guest Paul Isaac, CEO and Founder of Arbiter Partners, to discuss current opportunities and risks.

1:54 Paul’s #bitcoin trading strategy

7:40 Value in #Japan

12:30 Other periods of technological #disruption 14:45 Is #Exxon vulnerable to a market downturn?

17:14 Strategies for an expensive market

20:37 Paul’s favorite #stocks in the U.S.

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The stability paradox Oct 30, 2017

Jim, Evan and Phil hold forth on noteworthy sightings in credit, while Jim challenges a core premise of modern central banking.

0:43 #ECB taper announcement

2:36 Taylor Rule funds rate and the flattening yield curve

5:05 The search for “stability”

8:35 Kobe Steel bondholder surprise

9:55 10-year yield at a key level

12:14 The last great #bond bear. In like a lamb…

14:01 “Unprecedented in degree, persistence and circumstance”

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Financial revelations of the day Oct 18, 2017

Jim, Evan and Phil take inventory of notable topics and unusual occurrences around the world.

2:50 Blackrock and Vanguard assets approach #China GDP

5:59 Indexation, or unmanaged #money?

7:13 Magically shape-shifting earnings at #GE

10:30 Market Makers: New kids on the block

12:43 1987 stock market #crash turns 30

17:47 #Treasury curve pancakes

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Hamburger Helper Oct 11, 2017

Jim and Evan discuss opportunities and risks in the restaurant industry with John Hamburger, president of the Restaurant Finance Monitor.

0:53 Employment trends and #business activity

2:42 Low rates begets overcapacity

6:28 Risks for franchisees

8:10 Who owns the #real estate?

11:45 Global synchronized recovery and record #credit creation

14:20 Timeless cyclical psychology

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Resources roundtable Oct 02, 2017

Jim and Evan discuss the outlook for crude oil and other commodities with fund manager Adam Rozencwajg

0:48 President #Trump vs Candidate Trump

4:42 Adam’s thoughts on #oil

6:44 How to play a rising oil price

13:00 Implications of increased hedging activity

15:53 The outlook for #copper and #gold

The world is linked through arbitrage Sep 27, 2017

Jim, Evan and Phil take inventory of notable financial developments, big and small, around the globe

0:37 European #highyield or Treasurys, take your pick

3:44 Homeowners in #China taking a shine to mortgage debt

7:13 Securities analysis is back

11:45 Cliff Asness, momentum and #Amazon

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

20-20 Vison Sep 18, 2017

A common theme connecting some of today’s most popular investments: a very, very long time horizon

1:30 #Austria floats a 100-year bond

3:24 Limited supply of #bitcoin?

4:24 #Tesla promises one million cars per year

7:30 Five year/five year #Euro inflation swap rate

12:58 Hawkish hints

16:40 Half-empty #FOMC

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Empty seats at the Fed -- and empty data from Facebook Sep 11, 2017

Jim and Evan discuss potential candidates to replace Janet Yellen, as well as some strange doings at The Social Network.

1:10 President #Trump and Central Bankers

5:23 It’s hard to make predictions, especially about the future

11:03 #Facebook can’t count

14:04 Tajikistan’s incredible shrinking yield

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Summer cleaning Aug 21, 2017

Grant's vacation episode.

Alpine slide Aug 14, 2017

Jim and Evan break down the latest from the Swiss National Bank, along with the #Tesla bond offering, #cryptocurrencies and much more.

Click here to view the article discussed in this Podcast; Sell Coke

0:55 - Swiss National Bank

3:55 - Central Banks

6:05 - Corporate Bonds

7:23 - #Tesla

8:32 - Restaurant Jobs Growth

12:03 - Long Term Trends

14:19 - "Sell Coke"

18:34 - Bonds

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Texas teatime Aug 08, 2017

1:23 #Bitcoin spinoff

4:19 #FANG short interest evaporates

5:35 Long distance #rate hike odds

8:32 Global #art sales collapsing

9:45 The travails of #BlueApron and others

12:06 Conversation with Shad Rowe

Subscribe to Grant’s Podcast on iTunes, Stitcher and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Summer breeze Jul 31, 2017

1:10 #Whirlpool earnings recap

4:10 #QQQ price/earnings methodology

11:15 ETF-ation

13:06 Sponsored by somewhat

15:30 False precision in #government statistics

17:24 Initial Coin Offerings #cryptocurrencies

Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Episode 21 - An invigorating interview with Trey Reik Jul 24, 2017

Articles mentioned in this #Podcast:

Sprott Asset Management July 2017 Strategy Report

2:10 Similarities between #cryptocurrencies and #gold

5:42 Which cryptocurrencies will survive and prosper

10:10 How can gold reassert itself?

16:06 Are digital coins #securities?

20:24 #Blockchain in the mutual fund business

24:30 Grant’s AMA: Jim’s P.A. holdings

Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Hits and misses Jul 14, 2017

Articles mentioned in this #Podcast:

Now comes ‘deconvergence’

Inside ACE Securities’ HEL Trust, Series 2005-HE5

Introducing the Grant’s Supermodel Credit Portfolio

2:52 Grant’s 1987 bearish call on #Japan

4:40 Sell common stocks, said #Grant’s in 1995

7:55 #AEM encounters the Wolverine

13:02 #Greece de-converges

15:00 2006 delusions

19:06 Grant’s #supermodel portfolio, December 2008

Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

The least self-aware people on earth Jul 10, 2017

1:38 #Rates so high you can observe them 3:14 #Fed minutes recap 7:14 No such thing as a #wealth effect 10:14 #Inflation is too damn low 14:46 Excess capacity in the #restaurant industry 18:36 constant renewal of radical monetary policy

Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Big, dumb Japanese banks Jun 30, 2017

:07 Intro 1:16 Japanese banks and their #dollars 5:55 TCW's Tad Rivelle channels David Stockman 8:14 Janet #Yellen isn't worried 11:30 "The way forward is clear." Is that so? 14:02 #Kraft Heinz CEO responds to critics

Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Hear, hear Jim Bianco Jun 26, 2017

2:25: Everything in #Illinois is going broke 6:07: Flattening yield curve, this time is different? 9:15: #Fed vs bond market 12:42 Charles Evans discovers #Amazon 16:20 We need #inflation? 19:00 Which way interest rates 21:45 Fundamentals in the #energy market

Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Rate hikes past, present and future Jun 19, 2017

1:31 The #Fed is determined to hike #rates

5:28 Record private business #debt

8:17 Tightening cycles can have outsized consequences

9:00 The #German grocers are coming

11:30 #Fairway’s dead-wood expansion

13:00 #China’s curious #Anbang Insurance

Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Taxi! Taxi! Jun 02, 2017

The biggest pyramid scheme the world has yet seen May 26, 2017

Best statesman, worst investor May 18, 2017

Vol’ is the only asset class May 15, 2017

The costs of tranquility May 12, 2017

See here, Ben Bernanke May 04, 2017

1:36 New ETF & historically low volatility in markets

5:29 The unseens of the Ben Bernanke recovery

7:40 Lorenz on Swiss National Bank

10:51 What’s going on with Sprint?

14:05 Demand in automobile market Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Capital controls in your future? Apr 24, 2017

3:50 Why Singapore government debt is the best long idea

6:56 Are there any strong currencies?

9:33 Death of mercantilism

12:45 Napier on populism & the American Constitution

15:48 Where to buy stocks

19:30 Bullish on bonds

24:12 If Adam Smith were here...

Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

How not to get rich Apr 20, 2017

1:53 French Presidential election

4:10 Guide for the buyer of euro-denominated French sovereign credit

8:30 Grant & Lorenz react to NY Fed President remarks on how markets are instruments of policy

10:57 Why are Chinese regulators fearful? Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

A short history of excess Apr 06, 2017

1:27 Grant & Lorenz on Jeffrey Lacker resignation

4:00 Will Donald Trump seriously consider a return to gold standard?

6:03 Fighting the Fed during a prior peak

14:32 The story of #2 Wall St

Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Free speech for bears Apr 06, 2017

0:29 Identifying short ideas

7:02 Cohodes on his approach

12:12 stamps.com model

23:23 Cohodes on Bank of the Internet

28:51 What’s going on w/ Canadian housing market? Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Bulls in unison Mar 23, 2017

1:33 Lorenz on the Eurodollar futures

4:01 What happened to hedge funds?

5:56 Are prices in grocery stores deflating? Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

All together now Mar 08, 2017

1:57 What will the Federal Reserve do & potential implications

4:25 Lorenz on the bull & bear cases for oil

9:36 The inflation rate you haven’t heard of Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Credit, cars trouble Feb 22, 2017

0:24 Inside the latest edition of Grant's

2:10 Lorenz on auto-lending

5:27 Warren Buffett & leveraged transactions in restaurant stocks

8:45 What is secular stagnation? Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Just enough about interest rates Jan 27, 2017

1:40 Nature of cycles & interest rates

6:35 What the current market climate means for your portfolio

10:00 History of treasury securities

15:35 Service of history to the markets

18:57 End of rising bond prices Subscribe to Grant’s Podcast on iTunes & Stitcher. Grant’s Interest Rate Observer is available at http://www.grantspub.com