RWH012: Fear the Fed w/ Jim Grant
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 21 August 2022
⏱️ 121 minutes
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| 0:00.0 | You're listening to TIP. |
| 0:02.9 | Hi there, my guest today is Jim Grant, who founded an investment publication called |
| 0:07.3 | Grants Interest Rate Observer back in 1983. |
| 0:11.3 | Jim has been the editor for nearly 40 years now. |
| 0:14.4 | A subscription cost $1,400 a year, so it's not exactly cheap, but it's widely regarded |
| 0:20.2 | as required reading for the world's most successful investors. |
| 0:24.1 | In fact, when institutional investor magazine wrote a long profile of Jim a couple of years |
| 0:28.6 | ago, it described him as a Wall Street cult hero. |
| 0:32.9 | One reason for Jim's cult status is that he's a superbeconomic historian, and he draws |
| 0:38.0 | on this deep knowledge of the past to shed light on what's likely to happen in the future. |
| 0:43.9 | He's made a lot of famously pressier calls over the years. |
| 0:47.1 | For example, at the High to the Dot Com bubble back in 1999, he declared that it was one |
| 0:52.8 | of the most perilous junctures in investment history, and warned that America was dangling |
| 0:58.3 | by a thread financially speaking. |
| 1:01.0 | A year later, the bubble burst, the Nasdaq Index collapsed and plunged almost 77%. |
| 1:07.9 | Then in the years before the global financial crisis struck in 2007, Jim was one of the very |
| 1:13.5 | first people to warn about the toxic mortgage securities that ultimately led to the meltdown |
| 1:18.7 | of the global economy. |
| 1:20.3 | More recently, Jim's been warning for several years that the Federal Reserve has been engaging |
| 1:25.2 | in a reckless monetary experiment that was very likely to trigger rampant inflation. |
| 1:31.0 | Unfortunately, it turns out that he was right once again, inflation recently hit its highest |
| 1:36.0 | levels in more than four decades. |
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