GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

Jim Grant Asks 'What Happened to Capitalism?'

May 22, 2013 | About:
Canadian Value

Canadian Value

110 followers
Grant thinks the Fed minutes today which turned the stock market lower contained zero pieces of useful information.

Moreover, Grant can't believe that the thoughts or "guesswork" of the Fed is that important for investors that it can move a market so significantly.

Grant refers to Great Northern Iron (GNI) which is an income trust that has stated it is going out of business in 2015, yet investors are chasing it for the current yield of 13%. It is an investment guaranteed to lose money.

During the interview Grant poses the question "what happened to capitalism" as he ponders why the Ph,D.s at the Fed should be allowed to manipulate things rather than letting the market figure things out.



About the author:

Canadian Value
http://valueinvestorcanada.blogspot.com/

Rating: 3.4/5 (8 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK