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Jim Grant: buy gold, historical American documents and Russian oil companies

Video first released on 10/2/13

“The world ought to have much less faith in central banks, and as that reasoned distrust of a broken model grows, the gold price, I think, will appreciate,” Grant tells The Daily Ticker. “Gold is cheap at this price.”

In addition to gold, Grant likes Russian oil companies, such as Lukoil. “These companies priced as if they were going out of business,” says Grant. “They’re not. The balance sheets are okay. There’s insider buying. They are hugely and glisteningly cheap–2.5 to 6.5 times earnings…[they have] reserves in the ground…pay dividends and nobody likes them.”

James “Jim” Grant is an American writer and publisher and the founder of Grant’s Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author of Minding Mr. Market: Ten Years on Wall Street With Grant’s Interest Rate Observer, Mr. Market Miscalculates: The Bubble Years and Beyond, among other works. Grant’s television appearances include “60 Minutes,” “The Charlie Rose Show,” Bloomberg TV, CNBC and other well-known financial news sources. His journalism has appeared in a variety of periodicals, including the “Financial Times”, “The Wall Street Journal” and “Foreign Affairs.”

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