The History of Modern Finance

A pictorial and musical journey in Grant's cartoons. . .

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See what Grant's offers for yourself. Download selected issues and articles for FREE!

Our Investment Ideas Index

Grant's strives to produce rigorously researched and thoroughly analyzed investment ideas.

Current Issue

November 14, 2014, Vol.32, No.22


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Read the footnotes

Vanguard Group Inc., which beats the mutual fund industry by not trying to beat the stock market, attracted more money in the first 10 months of 2014 than it did in any calendar year of its storied 39-year history. Costs, returns and fads are the topics under discussion.

Unaccountably cheap

If efficient-market doctrine were correct, the share price of a certain alternative asset manager would likewise, necessarily, be correct. As we doubt the doctrine, so do we doubt the price. It is too low.

Pick to not click

Mr. Stock Market is fully attuned to the problems of this major oil producer. Mr. Bond Market needs to focus.

Monetary action agenda

With respect to the radicalization of monetary policy, investors en masse resemble the sleepy frog in the warming saucepan. They don’t jump out while the jumping’s good.

Race to debase

A strong exchange rate is the Old Maid of global trade. If neither the dollar nor the euro nor the yen nor the franc nor the renminbi will bear a high exchange rate, which monetary medium will consent to excel?

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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