All together now, buy stock
We humans seem genetically incapable of buying low and selling high. Especially are we prone to do the opposite when gathered together in corporate boardrooms. Share repurchases--their use and, especially, abuse--is the subject at hand.
Drug dealer
A financialized age has at last produced a financialized pharmaceutical company. Herewith, a long look at an enterprise that does its compound-hunting not in the laboratory but in the stock market.
Heads in the cloud
Lenders and borrowers long ago put risk aversion in the rearview mirror. New evidence suggests that the credit cycle is entering its manic phase. Heed the wisdom of an "old, beat-up commercial finance guy."
Under the Boardwalk
Shares of a certain master limited partnership was sawed in half last month. It was a mortification--indeed, a double mortification. Now for an analytical reassessment.
Thieves break through and steal
The spate of digital robberies may lead the bitcoin world where many a libertarian wishes it wouldn't go. On the competition between the alternative money you can't see, on the one hand, and the one you can, on the other.
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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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