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Friday, December 28, 2007

Grant's interest rate observer

I came across a reference to the financial writer James
Grant in some article I was reading
a few weeks ago..searched around, and came to the web site of a
newsletter he publishes:

It's for subscribers only, and I can see why..but there are a few
samples available for d/l:

Take a look..I just read the "Inside Ace Securities' Hel Trust, Series
2005-HE5" article last week. It's really worth reading--it talks about
subprime-backed CDOs in general, starting from basics, and then
dissects a one particular CDO, going through it with a guy who shorted it. And
all this was published back in Sept..2006!

I just noticed he's got this up on the website too.."what Grant's had
to say on three burning issues in credit, before the match was lit"

print those out and read them sometime..

I was reminded of all this tonight b/c I just saw that he
had an op-ed in the NYT a couple weeks ago. they had a whole page
devoted to the question of whether we're already in a recession..Grant's
answer was 'nobody knows', but his main point is a bust is necessary
after a boom, in particular in credit..and that we haven't gotten to the
bust yet:

actually that seems to be his main interest, booms and busts. after I
came across his newsletter, I went on amazon and ordered on his books:
"The Trouble With Prosperity: A Contrarian's Tale of Boom, Bust, and

I'll have to get around to reading it sooner or later..another on the
reading list/pile. he's got another one too, titled "Money of the Mind:
Borrowing and Lending in America from the Civil War to Michael Milken." he's also got a biography of Bernard Baruch, which them reminded me of
Niall Ferguson, , b/c
he's got a 2-volume history of the Rothschilds..but I'll save the
Ferguson links for a future post. that would just be a few more to add the
to list/pile.