Grant’s Current Yield Podcast

Grant’s Current Yield Podcast
Finance Expert Jim Grant on Investment, Stock Markets, Real Estate & Federal Reserve

Inflation protection that wins.
Oct 16 • 28 min
With special guest, Nancy Davis, progenitor of the Interest Rate Volatility and Inflation Hedge ETF (IVOL).
Down South
Oct 14 • 24 min
In conversation with John Haskell, founder and chief investment officer at Atla Capital Management
As the world turns
Oct 6 • 24 min
A conversation with Lakshman Achuthan, co-founder of the Economic Cycle Research Institute.
Dress rehearsal
Sep 26 • 33 min
Jim prepares for a presentation with a review of the current state of affairs.
Value investing and jazz
Sep 16 • 29 min
With special guest Andrew McDermott, founder and president at Mission Value Partners, LLC
Vacation delectation
Aug 11 • 24 min
Jim, Evan and Phil offer historical context on the recent gold rally, assess the state of the U.S. economy and identify a potential trouble spot in emerging markets.
Price, behavior and fundamentals: Where the rubber meets the road.
Jul 29 • 41 min
In conversation with special guest Dean Curnutt, founder and CEO at Macro Risk Advisors.
Inflation station
Jul 14 • 22 min
With special guest Peter Warburton, founder and director of U.K.-based consultancy Economic Perspectives Ltd.
Prolific and prophetic
Jun 24 • 28 min
With special guest Ed Yardeni, president and eponym of Yardeni Research and author of Fed Watching for Fun & Profit: A Primer for Investors.
Yield curve, under control?
Jun 4 • 28 min
Jim Bianco, president and eponym of Bianco Research, checks in to talk rates, credit and the Fed’s potential next move.
Bond fun
May 27 • 28 min
With special guest Edward I. Altman, professor emeritus of finance at New York University’s Stern School of Business and scholar of the credit markets.
Class is in session
Apr 29 • 37 min
With special guest Bruce Greenwald, academic director of the Heilbrunn Center for Graham and Dodd Investing at Columbia University, adviser at First Eagle Investment Management and former electrical engineer at Bell Labs.
Love and youth and spring
Apr 17 • 20 min
Jim, Evan and Phil in conversation.
The Grice Man cometh
Apr 1 • 26 min
A lively transatlantic chat with Dylan Grice, co-founder at #Calderwood Capital and author of #PopularDelusions.
What now?
Mar 27 • 32 min
An invigorating discussion of current circumstances with #MervynKing, former governor of the #BankofEngland and author of #RadicalUncertainty.
Your biggest mistake
Mar 13 • 32 min
Last fall, #Verdad Advisors founder and CIO Dan Rasmussen warned the #Grant’s conference audience against an over-reliance on private equity. His remarks follow. @verdadcap
Painting A Picture
Mar 3 • 31 min
Wendy Battleson and Giulia Costantini, co-founders at Art Strategy Partners, join this week’s episode.
The Empire Strikes Out
Feb 28 • 31 min
E.J. McMahon, an adjunct fellow at the Manhattan Institute and research director of the Empire Center for Public Policy, joins the show to discuss the sorry state of #NewYorkFinances. @EjMEj
ESG, avert your ears
Feb 25 • 24 min
Charles L. Norton, co-portfolio manager at the Vitium Global Fund, identifies #investment opportunities off the contemporary beaten path.
Picks and pans in biotech
Feb 13 • 19 min
Joe Lawler, M.D., Ph.D. and fund manager, joins this week’s program. On the agenda: #Coronavirus and its potential impact, navigating the “haves and the have-nots.” Is this a golden age in drug discovery? Index investors: the parasites of…
Impossible is extinct
Feb 7 • 23 min
2:54 High-yield: record defaults to below average in one year 4:47 Car company goes to the moon 7:00 Europe – the hotbed of “impossible” 11:58 “Impossible” through the decades
Public debt-does it matter?
Feb 2 • 21 min
Diminishing GDP returns, “Tax 2.0” and the “end of cycles.” Plus shifting price action and the meaning of September’s repo flare-up.
Quick Change
Jan 22 • 31 min
Investor and writer Tim Bergin calls in to discuss the risks and opportunities associated with our warming planet.
The gold show
Jan 22 • 33 min
Ronald Stoeferle, managing partner at Incrementum AG, calls in to discuss pressing monetary matters and to review the investment merits of the Money of Kings.
Home Alone
Dec 27, 2019 • 24 min
Jim Grant delivers a holiday message and review of 2019 financial events.
Winter reading
Dec 21, 2019 • 29 min
Amity Schlaes, author of “Great Society: A New History,” stops by the office to discuss her new book.
Around the horn
Dec 15, 2019 • 21 min
Each analyst identifies a notable recent event. Jim provides a winter reading recommendation.
Growth Market
Dec 6, 2019 • 25 min
Don Coxe, chairman at Coxe Advisors LLP and commodity investor par excellence, calls in to discuss the latest in agriculture and its implications.
It’s a gusher
Nov 22, 2019 • 27 min
Leigh Goehring and Adam Rozencwajg stop by the office to discuss opportunities in natural resources.
A short-seller in action
Nov 16, 2019 • 47 min
In October 2017, Marc Cohodes unveiled a new idea to the Grant’s conference crowd. His remarks follow.
Let the analytics department pitch to Drumbowski
Nov 8, 2019 • 22 min
Jim, Evan and Phil recap highlights from the Grant’s 2019 fall conference and discuss a recent sea change in the business environment.
Time to make the Donuts
Oct 18, 2019 • 26 min
Twitter user @Donutshorts calls in to discuss his investment process, assess the world at large and identify some companies which may offer compelling opportunities on the long and short side.
Oct 11, 2019 • 27 min
Rick Rule, president and CEO of Sprott U.S.A. Holdings, Inc., calls in to discuss the outlook for precious metals and offer suggestions on the best ways to invest.
Don’t fear the repo
Oct 3, 2019 • 25 min
George Selgin, director of the Cato Institute’s center for monetary and financial alternatives, calls in to discuss remarkable recent events in the banking system and the potential implications.
Two for the price of one
Sep 21, 2019 • 30 min
Bianco Research president and eponym Jim Bianco calls in to help us make sense of last week’s chaos in short term lending rates. Jonathan Tepper, founding partner at Variant Perception, assesses the commercial landscape and identifies potentially attrac
A conversation with the Dean of High Yield
Sep 12, 2019 • 33 min
Marty Fridson, chief investment officer Lehmann, Livian, Fridson Advisors LLC and “One of Wall Street’s most thoughtful and perceptive analysts” according to the New York Times, stops by to discuss all things credit.
He begs to differ
Aug 13, 2019 • 22 min
Tuomas Malinen, PhD (econ.) CEO of GnS Economics Limited and Adjunct Professor of Economics at the University of Helsinki, calls in to express his concerns with modern theory and practice.
Jay versus the volcano
Aug 4, 2019 • 27 min
Jim Bianco, president of Bianco Research, calls in to discuss the state of markets and central banking following Wednesday’s rate cut.
The data couldn’t be clearer
Jul 14, 2019 • 23 min
Jay Van Sciver, head of industrials at Hedgeye Risk Management, comes by to discuss opportunities in cyclicals, the state of the economy and some of our favorite profitless unicorns.
Middle Kingdom microscope
Jul 5, 2019 • 29 min
Carl E. Walter, longtime bank executive and coauthor of “Red Capitalism,” joins the program to discuss important recent happenings in China.
Freshly seasoned
Jun 25, 2019 • 29 min
Dan Fuss, vice chairman of Loomis, Sayles & Company and fixed income investor extraordinaire, calls in to discuss the state of markets in 2019.
Research Triangle
Jun 21, 2019 • 29 min
Rob Arnott, founder and chairman of the board of Research Affiliates, LLC, calls in to assess conditions and opportunities around the world.
Into the plumbing
Jun 11, 2019 • 23 min
Jeff Snider, head of global research of Alhambra Investments, calls in to discuss the workings of the modern financial system, and to offer his views on the best ways for investors to position themselves.
Spring chickens
Jun 5, 2019 • 22 min
Jim, Evan and Phil assess the state of play in high-yield credit, macroprudential regulation and an instructive recent op-ed in The Wall Street Journal.
Measuring the Middle Kingdom
May 29, 2019 • 27 min
Christopher Balding, associate professor at the Fulbright University of Vietnam, calls in to discuss all things China.
Double decker
May 23, 2019 • 38 min
A super-sized episode. Jim, Evan and Phil discuss the latest financial happenings. Sabrina Fox, executive advisor of ELFA Investor Group, details the challenges awaiting creditors in Europe’s loan and high-yield debt markets.
Distressed address
May 13, 2019 • 27 min
Kent Collier and Sarah Gefter of credit research firm Reorg call in to discuss the latest happenings in distressed debt.
The name’s bond
May 8, 2019 • 24 min
Andrew Park, senior editor at S&P Global’s LCD unit, joins Grant’s to discuss all things credit.
Around the world in 20 minutes
Apr 30, 2019 • 20 min
George Friedman, founder and chairman of Geopolitical Futures, calls in to discuss global goings-on and their potential investment implications. Jim identifies a potential long-term inflection point.
Hedging and hedge funds
Apr 8, 2019 • 22 min
Barclay Leib, founder and principal of Sand Spring Advisors, LLC, comes by the office to discuss asset allocation, forensic accounting and Wall Street history.
Fed ahead
Mar 24, 2019 • 23 min
Jim, Evan and Phil break down the watershed FOMC meeting this past week. Jim provides his updated reading list.
Investor’s Business
Mar 12, 2019 • 30 min
Michael Schaus, director of market research for Brenton Point Wealth Advisors LLC and Zweig-DiMenna, stops by the office to discuss the current outlook and to remember the great investor Martin Zweig
Spring training
Mar 5, 2019 • 23 min
Jim and Evan discuss the latest monetary happenings, the retirement of a Wall Street legend, and a little baseball.
It’s all relative
Feb 22, 2019 • 17 min
Jim and Evan discuss recent happenings, with European credit and banking in focus.
Take 5
Feb 17, 2019 • 22 min
As Japan marks 20 years of ultra-low rates, Jim and Phil take a look at monetary policies around the world. Jim shares his current reading list.
Bullion base
Feb 2, 2019 • 27 min
Simon Mikhailovich, lead manager of the Tocqueville Bullion Reserve, stops by Grant’s world headquarters to discuss doing business in the modern administrative state.
The Great Repression
Jan 23, 2019 • 24 min
Russell Napier, independent strategist and co-founder of the Electronic Research Interchange, joins the program to discuss the state of financial markets and his thought-provoking recent essay in the Financial Times.
Is the Fed broke?
Jan 16, 2019 • 22 min
Alex J. Pollock, distinguished senior fellow at the R Street Institute in Washington and former president of the Federal Home Loan Bank of Chicago, calls in to discuss the state of our central bank’s own finances.
Winter warm up
Jan 12, 2019 • 20 min
The usual suspects discuss an array of financial happenings, while Jim recaps a recent Grant’s field trip.
By the bushel
Dec 7, 2018 • 29 min
Keith Bronstein, commodities guru and president of TradeLink Holdings, LLC, calls in to discuss futures, interest rates and his latest big idea.
Bull markets are more fun than bear markets
Nov 20, 2018 • 27 min
Bob Farrell, longtime Merrill Lynch head of research, celebrated market technician and author of the widely cited 10 Rules for Investors, calls in to share his insights with Grant’s.
Curated content
Nov 13, 2018 • 25 min
Wendy Battleson, co-founder and principal of Art Strategy Partners, shares her expertise on the state of the market and its connection with other asset prices.
Read the fine print
Nov 5, 2018 • 19 min
Michelle Leder, reporter and founder of, stops by to discuss recent trends in corporate accounting and the regulatory environment.
Monopoly money
Oct 31, 2018 • 24 min
Jonathan Tepper, founder of macro research firm Variant Perception and author of The Myth of Capitalism, calls in to discuss the rise of corporate monopolies and its implications.
Tomorrow’s sales today
Oct 29, 2018 • 26 min
Chris Whalen, publisher of the Institutional Risk Analyst and financial industry expert, stops by the office to discuss the economy, credit and the Fed.
The other side of the boat
Oct 22, 2018 • 25 min
Dean Curnutt, founder and chief executive officer of Macro Risk Advisors, joins Grant’s to talk markets, volatility and anticipating the future.
Traffic signals
Oct 15, 2018 • 23 min
Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, joins the cast of characters to review pertinent signals in growth, interest rates and inflation.
Kevin Warsh, former Federal Reserve governor.
Oct 8, 2018 • 31 min
Kevin Warsh, former Federal Reserve governor and distinguished fellow at the Hoover Institution, pays Grant’s a visit to discuss the state of the world and markets.
Mix and match
Sep 26, 2018 • 15 min
Jim, Evan and Phil hold forth on the topics of the day.
The path to a crisis
Sep 14, 2018 • 23 min
Dan Gertner, Grant’s alum in the run-up to and the midst of the 2008 crucible, comes back into the fold to review those years of excess and subsequent panic.
Emerging value
Sep 7, 2018 • 21 min
John Haskell, head of research at Explorador Capital Management, joins Grant’s to assess opportunities in the particularly beaten down realm of emerging markets.
Current yield
Aug 31, 2018 • 22 min
Tony Canale, global head of research at Covenant Review, joins Grant’s to discuss what’s new in credit.
Summer Vacation episode
Aug 13, 2018 • 15 min
The usual suspects hold forth on a variety of financial topics, while Jim shares some of his favorite current books.
The battle of the interest rates
Jul 30, 2018 • 26 min
Richard Sandor, chairman and CEO of the American Financial Exchange and the Father of Financial Futures, joins Grant’s to help us make sense of the major changes that are coming to the world financial system.
Summertime and the living is easy
Jul 19, 2018 • 13 min
China, the leveraged loan market, Netflix and the Los Angeles Dodgers utility-man (why not?) headline another scintillating investment discussion.
Mix and match
Jul 9, 2018 • 19 min
Jim, Evan and Phil discuss the world’s various points of pressure, and provide a few other trenchant observations.
Nobody knows nothin’
Jul 2, 2018 • 21 min
A Grant’s variety pack: Jim, Evan and Phil hold forth on an array of topical financial matters.
It’s a bubble eh?
Jun 18, 2018 • 21 min
Seth Daniels, founding partner of JKD Capital, LLC, and Ben Rabidoux, president of North Cove Advisors, join Grant’s for a thorough analysis of the Canadian housing market and the potential consequences of a downturn.
The Tesla episode
Jun 11, 2018 • 20 min
The indomitable Montana Skeptic (@MontanaSkeptic1) joins Grant’s for a hearty discussion of the most polarizing car company in the world.
Read the footnotes
Jun 4, 2018 • 28 min
Francine McKenna, (@retheauditors) transparency reporter at MarketWatch, joins the regular cast of characters to discuss auditing and accounting trends, and their crucial role for investors.
Surf and turf
May 21, 2018 • 18 min
Jonathan Tepper (@jtepper2), chief editor of Variant Perception, and @John_Hempton, chief investment officer of Bronte Capital Management, share their macro and micro expertise on corporate concentration and corporate fraud.
Loan sharks
May 14, 2018 • 24 min
Adam Cohen, founder of Covenant Review, joins Grant’s for an insightful overview of our loosey-goosey credit market.
Theory and common sense
Apr 23, 2018 • 22 min
Steven D. Bleiberg, managing director and portfolio manager at Epoch Investment Partners, Inc., joins the regular cast of characters for a lively discussion of modern portfolio theory and its limitations.
Financial fulcrums
Apr 9, 2018 • 23 min
Jim Bianco, president of Bianco Research, LLC, joins the team to talk bonds, the Fed and much more.
Free money is the enemy of free markets
Apr 2, 2018 • 23 min
David Stockman, director of the Office of Management of Budget under President Reagan and mas­ter of mazy budgetary arithmetic, joins Jim and Evan for a scintillating discussion of fiscal and monetary matters.
The stuff’s really not good for you.
Mar 28, 2018 • 16 min
Jim, Evan and Phil revisit Grant’s 2017 bearish analysis of Facebook, with historical analog.
An epic epoch
Mar 26, 2018 • 18 min
Biff Robillard, president and co-founder of Bannerstone Capital Management LLC, joins the team to share his insights on the markets and investors’ state of mind.
Brain box
Mar 19, 2018 • 17 min
Ed Yardeni, President of Yardeni Research, Inc. and author of Predicting the Markets, A Professional Autobiography, joins Jim for a lively discussion.
China doll
Mar 12, 2018 • 16 min
Jim, Evan and Phil discuss the latest happenings in the Middle Kingdom and around the globe.
The rates puzzle
Mar 5, 2018 • 21 min
Stephen Stanley, chief economist and Xavier Negroni, co-head of the finance desk at Amherst Pierpont Securities, join the Grant’s team to try and make sense of the jump in short rates, while speculating on the Fed’s next move.
Index orphans
Feb 5, 2018 • 18 min
Jon Boyar, president of Boyar Research, joins the team to discuss opportunities in U.S. equities that are not eligible for the major indices.
Blockchain, what is it good for?
Jan 22, 2018 • 32 min
Kai Stinchcombe, co-founder and CEO of True Link Financial, joins the team to discuss his recent article questioning the utility of the supposedly-groundbreaking software for digital assets.
Electric Slide
Jan 16, 2018 • 17 min
Mark B. Spiegel, managing member at Stanphyl Capital, joins the team to discuss his favorite ideas, long and short.
Periodical table
Jan 1, 2018 • 19 min
Porter Stansberry, founder and editor of Stansberry Research, joins Jim for an enlivening conversation about the business and financial world at large.
Grant’s Holiday Episode
Dec 25, 2017 • 5 min
Jim wraps up a most unusual 2017 and looks forward to the year to come.
Realty Show
Dec 20, 2017 • 24 min
Andy McCulloch, head of real estate analytics at Green Street Advisors, gives Grants the lay of the land.
Is China a Ponzi scheme?
Dec 11, 2017 • 22 min
Grant’s welcomes Victor Shih, associate professor at The University of California, San Diego, to discuss that crucial question.
Value Hunt
Dec 6, 2017 • 17 min
JHL Capital Group chief investment officer James Litinsky joins Grant’s to share his views on opportunities and risks around the world.
Things you don’t see at bottoms
Nov 27, 2017 • 19 min
Special guest Bill Fleckenstein joins the Grant’s team to take inventory of current conditions
The tick-tock of time
Nov 22, 2017 • 13 min
A lively discussion of the sometimes-lengthy wait for investment ideas to come to fruition.
Buying low and selling high: A How-to
Nov 10, 2017 • 25 min
Jim and Evan welcome special guest Paul Isaac, CEO and Founder of Arbiter Partners, to discuss current opportunities and risks.
The stability paradox
Oct 30, 2017 • 18 min
Jim, Evan and Phil hold forth on noteworthy sightings in credit, while Jim challenges a core premise of modern central banking.
Financial revelations of the day
Oct 18, 2017 • 19 min
Jim, Evan and Phil take inventory of notable topics and unusual occurrences around the world.
Hamburger Helper
Oct 10, 2017 • 17 min
Jim and Evan discuss opportunities and risks in the restaurant industry with John Hamburger, president of the Restaurant Finance Monitor.
Resources roundtable
Oct 2, 2017 • 21 min
Jim and Evan discuss the outlook for crude oil and other commodities with fund manager Adam Rozencwajg
The world is linked through arbitrage
Sep 27, 2017 • 14 min
Jim, Evan and Phil take inventory of notable financial developments, big and small, around the globe
20-20 Vison
Sep 18, 2017 • 18 min
A common theme connecting some of today’s most popular investments: a very, very long time horizon
Empty seats at the Fed — and empty data from Facebook
Sep 11, 2017 • 18 min
Jim and Evan discuss potential candidates to replace Janet Yellen, as well as some strange doings at The Social Network.
Summer cleaning
Aug 21, 2017 • 3 min
Grant’s vacation episode.
Alpine slide
Aug 14, 2017 • 20 min
Jim and Evan break down the latest from the Swiss National Bank, along with the #Tesla bond offering, #cryptocurrencies and much more.
Texas teatime
Aug 8, 2017 • 23 min
An invigorating chat with Frederick “Shad” Rowe; talking Facebook, peak oil and much more
Summer breeze
Jul 31, 2017 • 19 min
Jim & Evan talk macro, micro and crypto, with a look under the hood of one of the most popular ETFs.
Episode 21 - An invigorating interview with Trey Reik
Jul 24, 2017 • 32 min
An invigorating interview with Trey Reik of Sprott Asset Management. Gold, Cryptocurrencies and more
Hits and misses
Jul 14, 2017 • 23 min
A look back at some good calls, and some-not-so-good ones.
The least self-aware people on earth
Jul 10, 2017 • 25 min
A fast-moving exegesis of the June minutes of the Federal Reserve’s rate-setting committee. Plus, the world reconsiders the investment merits of low-yielding sovereign debt denominated in depreciation-prone fiat currencies.
Big, dumb Japanese banks
Jun 30, 2017 • 17 min
Preview of the next funding crisis; cheers for Tad Rivelle, hisses for Kraft Heinz.
Hear, hear Jim Bianco
Jun 26, 2017 • 24 min
The renowned fixed-income analyst discusses the flattening yield curve, the reluctant Fed and the sinking finances of his home city, Chicago.
Rate hikes past, present and future
Jun 19, 2017 • 16 min
The Federal Reserve, ostensibly “data-driven,” pledges to continue to lift its tiny federal funds rate. It has never done so in times like these. Also: grocery price wars and a tentacled Chinese insurance company.
Taxi! Taxi!
Jun 2, 2017 • 23 min
Uber comes under the Grant’s lens.
The biggest pyramid scheme the world has yet seen
May 26, 2017 • 28 min
Grant’s talks to China authority Anne-Stevenson-Yang.
Best statesman, worst investor
May 18, 2017 • 17 min
Risk management as taught by—-among others—-Sir Winston Churchill
Vol’ is the only asset class
May 15, 2017 • 31 min
The ABCs, and the XYZs, of volatility with Christopher Cole of Artemis Capital Management
The costs of tranquility
May 12, 2017 • 31 min
A talk with Dean Curnutt, founder and CEO of Macro Risk Advisors
See here, Ben Bernanke
May 4, 2017 • 18 min
A short survey of grotesqueries in the world that the central banks made.
Capital controls in your future?
Apr 24, 2017 • 26 min
Special guest Russell Napier talks with Jim Grant about the coming tumult in currencies and interest rates.
How not to get rich
Apr 20, 2017 • 13 min
How not to get rich: A guide for the buyer of euro-denominated French sovereign credit. Tell us again how many times the Fed will hike this year? Jim Grant and Deputy Editor Evan Lorenz host the Grant’s Podcast.
Free speech for bears
Apr 6, 2017 • 34 min
Special guest Marc Cohodes runs Alder Lane Farm and is a famed short seller and bull fighter. Twitter: @AlderLaneeggs
A short history of excess
Apr 6, 2017 • 16 min
Grant’s can only find two precedents for the market’s stretched valuation. A look back at a bullish banker who fought the Fed during a prior peak. Also, a discussion of a leak-prone Fed and a populist government.
Bulls in unison
Mar 23, 2017 • 9 min
A record net short position in Eurodollar futures raises contrary hackles. Hedge funds-whatever happened to them? And observations on the supermarket bargains for which you may thank ultra-low interest rates and EZ money.
All together now
Mar 8, 2017 • 15 min
Jim Grant and Deputy Editor Evan Lorenz with scintillating talk on oil, miniature interest rates and the shockingly high rate of inflation (the rate you possibly haven’t heard of). Can a self-styled contrarian be bullish on oil when everyone else is?
Credit, cars trouble
Feb 22, 2017 • 12 min
What easy money giveth, easy money taketh away. Jim Grant and Deputy Editor Evan Lorenz on the coming glut in off-lease cars and trucks.
Just enough about interest rates
Jan 27, 2017 • 20 min
The most important prices in capitalism have a long, colorful, and-in the capable hands of James Grant-witty history. What the past may teach about the future.
Grant’s Interest Rate Observer
Jan 26, 2017 • 19 min
James Grant and Deputy Editor Evan Lorenz share the story of how this celebrated beacon of skeptical long-form financial journalism prospered in an age of credulous inattention.