Current Issue
May 17, 2013, Vol.31, No.10
Desperately seeking income
A certain trust, priced to deliver a very temporary double-digit dividend yield is Exhibit A. Junk bonds, sovereign debt and a certain financial institution comprise Exhibits B through one-loses-count. Now begins a new installment in the chronicles of the great yield famine.
First beach book
You'll be finished before you get home.
Puts on Ph.D.s
Let's say that the agents of financial repression misplay their hands and print the fatal redundant unit of scrip. Come the day of disillusionment, plenty will change, including, perhaps, the prices of the following trio of corporate equities.
Pole-vault yields
In the first quarter, falling mortgage-backed securities prices dented the book value of two of the biggest mortgage REITs, while a third mortgage REIT, tiny by comparison, sailed through almost un-dinged. Which of the three is the best candidate to continue to deliver yields in the low to mid-double digits is the topic at hand.
Alan Abelson, RIP
Remembering the progenitor of "Up and Down Wall Street."
Premonitions of a stock operator
The sound you hear isn't a snowbound driver futilely spinning his wheels (it's May in the Northern Hemisphere, after all), but the Fed performing its QE. Reflation, as this publication was not the first to perceive, is sometimes more easily said than done--in the Occident, at least.
Books by the editor
James Grant is the author of these books on finance and American history.
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About James Grant
James Grant founded Grant's Interest Rate Observer in 1983 following a stint at Barron's, where he originated the "Current Yield" column.
His books include works of financial history, finance and biography. They are: “Bernard M. Baruch: The Adventures of a Wall Street Legend” (Simon & Schuster, 1983); “Money of the Mind: Borrowing and Lending from the Civil War to Michael Milken” (Farrar, Straus & Giroux, 1992); “Minding Mr. Market” (Farrar, Straus & Giroux, 1993); “The Trouble with Prosperity” (Times Books, 1996); “John Adams: Party of One” (Farrar, Straus & Giroux, 2005); “Mr. Market Miscalculates” (Axios Press, 2008); and “Mr. Speaker! The Life and Times of Thomas B. Reed, the Man Who Broke the Filibuster” (Simon & Schuster, 2011).
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