James Grant (finance)
Encyclopedia
James Grant is an American
writer
and publisher. The founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets, he is the author of Money of the Mind (1992), The Trouble with Prosperity (1996), John Adams: Party of One (2005) and Mr. Speaker: The Life and Times of Thomas B. Reed, the Man Who Broke the Filibuster (2011), among other works.
Gunner's mate
, graduated from Indiana University
, and received a master's degree
in International relations from Columbia University
.
He is married to Patricia Kavanagh, M.D., a neurologist
, and lives in Brooklyn Heights, Brooklyn
. They have four children.
However, the publication’s signature skepticism
served it, and its readers, better in the 2000s. Mr. Market Miscalculates (2008), a collection of Grant’s articles published over the preceding 10 years, elicited an appreciative review in the Financial Times
. “If Grant could see what was happening this clearly,” wrote John Authors of the staff of the FT, “and warn of it in a well-circulated publication, how did the world’s financial regulators fail to avert the crisis before it became deadly, and how did the rest of us continue to make the irrational investing decisions that make Mr. Market behave the way he does?”
named Grant as his likely candidate for Chairman
of the Federal Reserve to replace Ben Bernanke
whose term expires in 2014.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
writer
Writer
A writer is a person who produces literature, such as novels, short stories, plays, screenplays, poetry, or other literary art. Skilled writers are able to use language to portray ideas and images....
and publisher. The founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets, he is the author of Money of the Mind (1992), The Trouble with Prosperity (1996), John Adams: Party of One (2005) and Mr. Speaker: The Life and Times of Thomas B. Reed, the Man Who Broke the Filibuster (2011), among other works.
Personal life
Grant served as a NavyUnited States Navy
The United States Navy is the naval warfare service branch of the United States Armed Forces and one of the seven uniformed services of the United States. The U.S. Navy is the largest in the world; its battle fleet tonnage is greater than that of the next 13 largest navies combined. The U.S...
Gunner's mate
Gunner's Mate
The United States Navy occupational rating of gunner's mate also known as gunsmens mate is a designation given by the Bureau of Naval Personnel to enlisted sailors who either satisfactorily complete initial Gunner's Mate "A" school training, or who "strike" for the rating as a deck seaman by...
, graduated from Indiana University
Indiana University
Indiana University is a multi-campus public university system in the state of Indiana, United States. Indiana University has a combined student body of more than 100,000 students, including approximately 42,000 students enrolled at the Indiana University Bloomington campus and approximately 37,000...
, and received a master's degree
Master's degree
A master's is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice...
in International relations from Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
.
He is married to Patricia Kavanagh, M.D., a neurologist
Neurologist
A neurologist is a physician who specializes in neurology, and is trained to investigate, or diagnose and treat neurological disorders.Neurology is the medical specialty related to the human nervous system. The nervous system encompasses the brain, spinal cord, and peripheral nerves. A specialist...
, and lives in Brooklyn Heights, Brooklyn
Brooklyn Heights, Brooklyn
Brooklyn Heights is a culturally diverse neighborhood within the New York City borough of Brooklyn. Originally referred to as 'Brooklyn Village', it has been a prominent area of Brooklyn since 1834. As of 2000, Brooklyn Heights sustained a population of 22,594 people. The neighborhood is part of...
. They have four children.
Journalism
He began his journalistic career at the Baltimore Sun in 1972 and joined the staff of Barron's in 1975. He founded Grant’s in 1983. Success was some time in coming. “A critic complained that Money of the Mind, my . . . history of American finance, was like an account of the interstate highway system written from the point of view of the accidents,” Grant wrote in Minding Mr. Market (1993). “The same might be said, both fairly and unfairly, of Grant’s. Where most observers of the 1980s emphasized the rewards, we dwelled mainly on the risks. In the junk bond, in the reckless patterns of bank lending, in the dementia of Japanese finance, in the riot of the Treasury’s borrowing, we saw not the bull markets of today but the comeuppance of tomorrow.”However, the publication’s signature skepticism
Skepticism
Skepticism has many definitions, but generally refers to any questioning attitude towards knowledge, facts, or opinions/beliefs stated as facts, or doubt regarding claims that are taken for granted elsewhere...
served it, and its readers, better in the 2000s. Mr. Market Miscalculates (2008), a collection of Grant’s articles published over the preceding 10 years, elicited an appreciative review in the Financial Times
Financial Times
The Financial Times is an international business newspaper. It is a morning daily newspaper published in London and printed in 24 cities around the world. Its primary rival is the Wall Street Journal, published in New York City....
. “If Grant could see what was happening this clearly,” wrote John Authors of the staff of the FT, “and warn of it in a well-circulated publication, how did the world’s financial regulators fail to avert the crisis before it became deadly, and how did the rest of us continue to make the irrational investing decisions that make Mr. Market behave the way he does?”
2012 election
Ron PaulRon Paul
Ronald Ernest "Ron" Paul is an American physician, author and United States Congressman who is seeking to be the Republican Party candidate in the 2012 presidential election. Paul represents Texas's 14th congressional district, which covers an area south and southwest of Houston that includes...
named Grant as his likely candidate for Chairman
Chairman of the Federal Reserve
The Chairman of the Board of Governors of the Federal Reserve System is the head of the central banking system of the United States. Known colloquially as "Chairman of the Fed," or in market circles "Fed Chairman" or "Fed Chief"...
of the Federal Reserve to replace Ben Bernanke
Ben Bernanke
Ben Shalom Bernanke is an American economist, and the current Chairman of the Federal Reserve, the central bank of the United States. During his tenure as Chairman, Bernanke has overseen the response of the Federal Reserve to late-2000s financial crisis....
whose term expires in 2014.