RWH012: How To Survive Rampant Inflation & The Folly Of The Fed w/ Jim Grant

William Green chats with Jim Grant, who’s been hailed by Institutional Investor magazine as a “Wall Street Cult Hero.” Jim is the editor of Grant’s Interest Rate Observer, which is required reading among the world’s most successful investors. Famously prescient, he rang the alarm before the dotcom crash, before the Global Financial Crisis, & before the recent surge of inflation. Here, he shares his fiercely skeptical views on the folly of the Federal Reserve, why he refuses to invest in China, why he likes gold, & why he’s bearish on bonds & Bitcoin.
 
IN THIS EPISODE, YOU’LL LEARN:
00:00:00 – Intro
00:16:16 – How the Great Inflation of 1965-81 shaped Jim Grant’s views on our current predicament.
00:22:52 – How history shows us that human behavior around money has never really changed.
00:28:07 – Why it’s futile to forecast interest rates, but wise to know what’s happened in the past.
00:35:53 – How the Federal Reserve sparked rampant inflation, why it’s scary, & how to deal with it.
00:49:08 – How central bankers illustrate the perils of overconfidence & the need for humility.
00:56:32 – How the Fed could wreck the U.S. economy while attempting to tame inflation.
01:00:17 – What investment opportunities Jim sees in this high-risk economic environment.
01:04:14 – Why he’s bearish on bonds as a 40-year cycle of falling interest rates comes to an end.
01:09:19 – Why Jim likes gold, not Bitcoin, as a protection against financial chaos & monetary folly.
01:24:58 – Why he adamantly refuses to invest in China.
01:26:44 – What Jim thinks of great investors like Seth Klarman, Paul Tudor Jones, & Bill Miller.
01:28:10 – How to handle the emotional challenge of investing when the stock market is tumbling.
01:30:56 – What we can learn from Bernard Baruch, one of the best investors of the 20th century.
01:34:26 – What you can learn from a classic investment book about the secret of “dying rich.”
01:43:21 – What Jim regards as “the most precious commodity” in life.

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📖  BOOKS MENTIONED:
– Bernard M. Baruch: The Adventures of a Wall Street Legend by James Grant: https://amzn.to/3SY6peU
– Bagehot: The Life and Times of the Greatest Victorian by James Grant: https://amzn.to/3zUu7Qs
Disclosure: Some of the links above are affiliate links that we may earn commission from. This helps keep our show going! 😀

▶️ MENTIONED EPISODES:
– (RWH007) Investing Legend Bill Miller On Amazon, Bitcoin, & Buffett: https://www.theinvestorspodcast.com/richer-wiser-happier/investing-legend-bill-miller-on-amazon-bitcoin-buffett/

💡 OTHER RESOURCES
– Grant’s Interest Rate Observer: https://www.grantspub.com/
– Almost Daily Grant’s: https://www.grantspub.com/resources/commentary.cfm
– Grant’s Current Yield Podcast: https://www.grantspub.com/podcasts.cfm
– Seeking Alpha is a crowd-sourced content service for financial markets. Take control of your financial future — Use our link here for a special $140 discount: https://bit.ly/3PVyNfF 

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WHO I AM:
I’m William Green, the author of Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life 📘. Over the last quarter of a century, I’ve interviewed many of the world’s best investors, exploring in depth the question of what qualities and insights enable them to achieve enduring success 💰. I’ve written extensively about investing for many leading publications 📰 such as Time, Fortune, Forbes, Barron’s, The Economist, and many others. Born and raised in London, I was educated at Eton College, studied English literature at Oxford University, and received a Master’s degree from Columbia University’s Graduate School of Journalism ✍.

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