I have a video treat for Jim Grant fans; and Benjamin Graham fans; and value investing fans; and well, you get the point. I haven't seen anyone linking to this video anywhere so it's as exclusive and insightful as anything you'll find on this blog. I'm happy with this find.
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Even if you are not a fan of Jim Grant and could care less about Benjamin Graham, you should check it out for Grant's historical perspective. I like Grant but don't agree with many of his views. For what it's worth I think Grant is wrong when it comes to the current credit implosion and would definitely put him in the 'liquidationist' camp of Hoover/Mellon/Jim Rogers/Marc Faber. Jim Grant is definitely one of the most knowledgeable people I have encountered in investing.
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Here is an example of what I mean by a little nugget. Jim Grant, in the Q&A, points out how rapidly the Federal Reserve's balance sheet has expanded lately. Roughly, it took around 75 years (roughly 1989) since its founding in 1914 for the Federal Reserve to hit a balance sheet value of $100 billion. Then it took 10 years (roughly 1999) to hit $500 billion. After that it only took 8 years to hit $1 trillion. And now, in two weeks the FedRes balance sheet went from $1 trillion to $2 trillion. You can see why Jim Grant is concerned about the US$.
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