Last night the annual CFA Forecast Dinner occurred and after missing last year’s for the first time EVER, it was great to be back on track.
Famous for his regular newsletter called “Grant’s Interest Rate Observer”
Describing himself as
…an independent, value-oriented contrary minded….
Interest rates were higher in the great Depression than they are today!
Bonds/rates may have one last gasp here and then be very careful, no margin of safety.
My favorite two quotes from Grant!
My first meeting of Russ and his little firm, BlackRock (One of largest Money Management Firms in the world)
With a team just back from Saudi, “They way overshot” according to Russ and do not know why oil prices are so low. The native Saudi’s that Russ’s team met with would prefer HIGHER oil prices.
Harvey Rosenblum, Former Dallas Fed Official, now SMU Professor
Now the third or fourth time to visit with Rosenblum, after his departure from the Dallas FED he speaks a bit more freely.
QE, has dramatically extended and slowed the recovery process.
“Since I am no longer at the FED and do not have to report my holdings every quarter, I am about to buy Gold …. inflation is kindling” Rosenblum chimed.
Bloomberg is one our favorite resources for information. Kathleen has a radio show weekdays, mid morning until early afternoon. Her straight forward, nicely handled moderator title for the event was perfect.
Once again a wonderful event, with great dialogue. Thanks to all who participated.
Have a Great Day!
John A. Kvale CFA, CFP
PS I am in the sky, headed West to watch our own, “Hollywood .. AKA the Brain” show his stuff … Returning Friday night !
PSS Digital diary !
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Dallas, TX 75225