James Grant is the editor of Grant's Interest Rate Observer. This book is a collection of some articles from the subscription from the 1990's up to the 2008 GFC.
The articles are arranged by topic, then by chronology. Topics include Fed interest rates, housing mortage situation in the years leading up to the GFC and some securities-related analysis. The essays are opinion pieces on the market situation in the relevant time period and because the original magazine is concerned with interest rates, there is a very huge slant towards that topic. The editorial staff are very well-read and the essays do delve into financial history. The book is not easy to read at points but not very dry. It can get technical due to the nature of the topic but I believe this has been simplified as much as possible to help the essay narratives. However, there is plenty of humour and the writer(s) takes many potshots at central banks and Alan Greenspan. The topics are very America-centric in the market perspective. There is also a nice mixture of macro and micro analysis.
The book is not suitable for beginners and serves as a good sampling if you intend to take up subscription, which does not come cheap. Only recommended if you are interested in articles on interest rates from a historical perspective. Even then, these are snapshots of the past decades.
Recommended: No
Found in NLB: Yes
