Things you don’t see at bottoms

Grant’s Current Yield Podcast

Grant's Financial Publishing, INc.

Investing, Business, Stockmarkets, Financeexpertjimgrantoninvestment, Realestatefederalreserve, News, Business News

4.6 • 693 Ratings

🗓️ 27 November 2017

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Special guest Bill Fleckenstein joins the Grant’s team to take inventory of current conditions

1:35 Triple-B-rated #bonds yielding less than zero

5:43 #Bitcoin and the apocalypse

7:28 #Tech, then and now

12:34 #Trump and volatility

15:52 What’s different this time?

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Transcript

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0:00.0	Hey, welcome to Grant's Interest Rate Observer of the Air.
0:09.1	I'm Jim Grant, and with me today, as the usual, and then some.
0:12.4	We have the great Evan Lorenz, deputy editor of Grants.
0:15.1	We have Phil Grant, who produces the essential daily reading, or almost daily reading, called
0:20.1	Almost Daily Grants, Eric Whitehead,
0:21.8	as usual at the controls, and today's special guest William Fleckenstein. Bill
0:26.2	Fleckinstein, who was, I had to say it, Bill and I have been fellow sojourners in the financial
0:32.4	market for about 40 years. Bill runs Fleckenstein Capital. He produces the Daily Wrap, which is something you
0:38.3	also read as well. As I should have mentioned this first, certainly second, is one of the great
0:42.3	all-around athletes in the business of buying low and selling high, or in his case selling high and
0:46.6	buying low. He's like a sub-three-hour marathon runner, ace eye hand coordination guy in a tennis racket and a fearless skier, I'm told. I myself wouldn't
0:55.4	dare put them on. Skies, that is. So, Bill, welcome. Thank you, Jim, for that glorious introduction.
1:00.3	Well, it's not going to get any better. That's it. That's the peak of the show. And I ought to say,
1:04.6	before we progress further, and I will say, this episode of Grants on the air is brought to you by money for the rest of us, a must listen to podcast,
1:13.2	and e-financial careers, which is the world's leading financial service for your website.
1:17.6	So without further ado, Bill Fleckenstein, what we have today, we have a list of 10 observations
1:22.4	compiled by the staff of grants that you rarely see at market bottom, all right?
1:25.7	And what we're supposed to do with you today is to just enumerate these things and get your reaction to bottom, all right? And what we propose to do with you today
1:27.8	is to just enumerate these things and get your reaction to them, all right?
1:31.6	Hopefully I'll be up to the task. Okay. So the first is the citing that certain AAA-rated
1:36.8	bond issue is a Paris-based resource and waste management and utility outfit called Fiolia.
1:42.2	The other day, issued half a billion of Euro-denominated three-year
	...

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