RWH062: Bubble Warning w/ Jim Grant

You're listening to TIP. Hi everyone, I'm delighted to be back with you again on the Richer, Wiser, Happier podcast. Today's episode is an important, timely, and extremely thought-provoking conversation with Jim Grant. Jim, who's a cult figure in elite investment circles, is the renowned founder and editor of Grants Interest Rate Observer, a bi weekly publication that he's edited since 1983.

These days it costs the best part of $2,000 a year for a subscription, so it's not cheap, but it's widely recognized as an invaluable source of unconventional insights for sophisticated investors. Nasem Taleb, who's not an easy man to impress, has written that Jim Grant thinks outside the box. Please read him. Listen to him. David Swenson, who ran Yale University's endowment with huge success for decades, once remarked that Grant's interest rate observer is on the must read list of every serious student of markets.

One reason for Jim's stellar reputation is that he draws deeply on his knowledge of financial history, to issue early warnings about brewing storms that many investors fail to recognize until it's too late. He's never been afraid to point out the wretched excesses of Wall Street, those moments when speculative fads get out of hand, and when unscrupulous investment firms are selling dross that's dangerous to the financial health of careless or credulous investors. In 1999, for example, at the height of the dot com bubble, Jim warned that it was one of the most perilous periods in investment history, and that America was dangling by a thread, financially speaking. A few years later,

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