The Mirror Cracks

The chorus of monetary policy dissenters is growing louder as The Fed prepares to taper its monthly bond purchases. Michael Lewitt discusses how he's preparing.

Loyal members of Intelligent Investor Share Advisor may be familiar with Jim Grant of Grant’s Interest Rate Observer. Grant has published several books, including Money of the Mind, Minding Mister Market and Mr. Market Miscalculates amongst others.

His contrarian bent and humorous take on the world’s financial markets make him my favourite regular financial writer. Though I have enjoyed reading his fortnightly missive a little bit less over the past couple of years due to his focus on money printing and the case for gold, I doubt anyone will ever displace his standing on my bookshelf. A salutary picture of the six foot six literary giant dwarfing me at the 2011 Autumn Grant’s Conference still takes pride of my desk next to my collector cards of AFL legend and three-time premiership player Darren Jarman.

Unfortunately at over US$1k per year Grant’s Interest Rate Observer is quite expensive and esoteric for individual investors, but if you’re searching for an option that costs half as much while sharing similar views and actionable investment ideas across various US markets, such as fixed income, stocks and gold, then you might consider Michael Lewitt’s newsletter The Credit Strategist.

Be warned, though. If you prefer your financial glass half full then you’d do well to steer clear of this pair given their pronouncements that the unintended consequences of Ben Bernanke’s printing press could make GFC 1 look like a picnic. But if you value the sort of independent thinking and honesty that members of Share Advisor rely on each year then you can read the current edition of The Credit Strategist titled ‘The Mirror Cracks’ for free by signing up to Outside the Box, a free e-letter published by contrarian economist John Mauldin.

While Lewitt is more trade orientated than Share Advisor, his views are always interesting and in the current edition of his newsletter he explains how he is preparing his client portfolios for the end of QE in the US.

If Lewitt doesn't leave you twitching nervously in a dark corner, then you might be interested that Seth Klarman also recently added his voice to the alarming direction in which the US is heading. You can read Klarman's recent speech here, but be quick, as the link expires on 21 August.

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