On My Radar: Grantham, HY And The Cyclical Bear In Gold

On My Radar: Grantham, HY And The Cyclical Bear In Gold by Steve Blumenthal, Capital Management Group

“If you’re young, take the whack [and] if you’re old, pray for the Fed to keep going.”
– Jeremy Grantham

Grantham was the opening keynote at the Morningstar Investment Conference in late June.  There were several notable insights I share with you this week.  The intro quote above pretty well sums up his outlook.  All about that (bass) Fed, about that (bass) Fed.  The jingle continues to ring in my mind.

I believe the high yield debt market can help us identify market inflection points.  High yield tends to be a leading market indicator. A default wave is in our near future and I suspect...