"The only research that I pay for."

—Jeffrey Gundlach, founder and CEO, DoubleLine Capital, LP.

Our editorial mission is to see the present more clearly and to squint into the future more imaginatively. Twenty-four times a year, we strive to uncover good ideas and to expose bad ones. To identify the next important event in markets is the main prize. We try hard to win it, and sometimes—as with the 2008 mortgage meltdown and 2009 recovery in credit or the 2015 “specialty pharmaceuticals” industry belly flop—we succeed. 

In every 12-page issue, we present long and short investment candidates in a range of asset classes -- equities, fixed income and real-estate to name a few—as well as astute observations on interest rates, monetary policy, the credit markets and currencies. All of this we frame in the context of financial history and express in jargon-free English.

Recent issues of Grant’s have featured analyses of the cycles of interest rates, of income opportunities across the credit spectrum, and why Fed chairman Jerome Powell is a “prisoner of history.” Where can an income-seeking investor earn a suitable yield offered at a deeply discounted price? What investment product might play the role of financial villain in a future House of Representatives committee meeting?

The Financial Times columnist John Authers, reviewing the 2008 collection of Grant’s articles entitled “Mr. Market Miscalculates,” called our prescience concerning the-then unfolding financial crisis “uncanny.” And he asked, “If Grant could see what was happening this clearly, and warn of it in a well-circulated publication, how did the world’s financial regulators fail to avert the crisis before it became deadly, and how did the rest of us continue to make the irrational investing decisions that make Mr. Market behave the way he does?”

Please help yourself to the free issues provided. Reading Grant’s—really reading it—you will find you ask better questions, read better books, and keep company with a better class of investment.

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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).

 

Books by James Grant View All

The Forgotten Depression: 1921: The Crash That Cured Itself

By the publisher of the prestigious Grant’s Interest Rate Observer, an account of the deep economic slump of 1920–21 that proposes, with respect to federal intervention, “less is more...

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Mr. Speaker!: The Life and Times of Thomas B Reed, the Man Who Broke the Filibuster

“It is good to have this excellent biography of Thomas Reed, a vastly underappreciated major figure in American political history...

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Mr. Market Miscalculates:The Bubble Years & Beyond

“James Grant’s Mr. Market Miscalculates may well be the most perceptive book on the current financial crisis yet published...

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Bernard Baruch: The Adventures of a Wall Street Legend

The life and times of the renowned investor, venture capitalist and Democratic political operative...

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Hand-Picked Grant's

What delights await a Grant’s subscriber? Read the free sampler of complete issues to find out.

Current Issue

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It ain’t necessarily so

It’s supposedly settled science that stocks deliver superior investment returns over any reasonable long-term holding period: superior to cash, of course, but also to bonds...

Children of QE

What sustains these profitless wonders? The still low cost of capital, of course...

Dept. of SNAFU

When acronyms adhere to the policies and procedures of other acronyms...

Returns to adversity

Last month’s reduction in the quarterly payout to one lonely penny was symbolic of a new seeming certainty, namely, that Thomas Alva Edison’s corporate brainchild is sick unto death...

Art house picture

But the evening may be more notable for what didn’t happen.

Used and abused

The point of ultra-low interest rates is to yank consumer demand into the present from the future...

Mex officio

“Ironic it is that markets are surprised.”

Central bank games

And the Swiss are the conservative ones.

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