Friday, May 20, 2011  "Once Bullish, Contrarian Jim Grant Likes
Cash Now" (until the inflation hits)  From the AP via NPR:
With its wry observations about investor self-delusion, Grant's
newsletter ($910 for an annual subscription) has become a sort
of bible among the bold and bearish alike. Though detractors say
he's far too negative, he's been praised for some timely calls.
In the 1980s, he warned of an overheated junk bond market before
it collapsed. He foretold of the bursting of the tech bubble in
the late 1990s, and revealed the false alchemy of Wall Street's
mortgage packaging business before housing crashed four years
ago.  Occasionally, he's gotten bullish at the right time, too.
Amid the panicked selling of late 2008, Grant told readers to
load up on investment grade bonds, junk bonds, even a few of
those much-derided mortgage securities. Some picks have more
than doubled since....  ...Q: What's your view of the stock
market? A: The Federal Reserve has unilaterally taken it upon
itself to levitat