The indomitable Montana Skeptic (@MontanaSkeptic1) joins Grant’s for a hearty discussion of the most polarizing car company in the world,

1:51 Is a “supernova” third quarter in the works?

3:54 The basic #bear case

7:49 #Model 3 reservation holders: What now?

13:26 The lawyers circle

16:14 Montana’s overall #investment approach

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Francine McKenna, (@retheauditors)  transparency reporter at MarketWatch, joins the regular cast of characters to discuss auditing and accounting trends, and their crucial role for investors.

4:07 What do investors get wrong about #financial statements?

8:41 Auditors do not draft financials

13:49 Are certain #law firms more likely to push the envelope?

19:48 Do auditors have a fiduciary duty to #investors?

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Jonathan Tepper (@jtepper2), chief editor of Variant Perception, and @John_Hempton, chief investment officer of Bronte Capital Management, share their macro and micro expertise on corporate concentration and corporate fraud.

2:09 How do managers contend with increasing industry consolidation?

8:51 “A time of #disruption”, while barriers to entry rise

12:04 Summertime for corporate #fraud

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Adam Cohen, founder of Covenant Review, joins Grant’s for an insightful overview of our loosey-goosey credit market.

1:20 “Read the footnotes,” then and now

8:41 Where is the danger for lenders?

13:54 Potential consequences of widespread cov-lite

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Steven D. Bleiberg, managing director and portfolio manager at Epoch Investment Partners, Inc., joins the regular cast of characters  for a lively discussion of modern portfolio theory and its limitations.

2:50 What is a stock, a portfolio, the #market?

6:20 The theory is now #reality

11:05 #Risk, asymmetry and indexing

14:33 Profit and the cost of #capital

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Jim Bianco, president of Bianco Research, LLC, joins the team to talk bonds, the Fed and much more.

1:00 Where are #rates going?

5:51 The #Fed and the Heisenberg principle 11:07 Potential consequences of a decade of interest rate #price control 15:10 The significance of a three percent 10-year #yield

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David Stockman, director of the Office of Management of Budget under President Reagan and mas­ter of mazy budgetary arithmetic, joins Jim and Evan for a scintillating discussion of fiscal and monetary matters.

0:00 The #Simpsons foreshadowing

3:20 Deficits and #debt monetization. What’s the harm?

9:01 Requiem for a #bond bull market

15:30 Sell what the #central banks are selling

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Jim, Evan and Phil revisit Grant’s 2017 bearish analysis of Facebook, with historical analog.

2:05 “Sell #Coke” 1996

6:06 Paul Fusselll and #human folly

10:41 Where do we stand now?

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Biff Robillard, president and co-founder of Bannerstone Capital Management, LLC, joins the team to share his insights on the markets and investors’ state of mind.

1:40 Major changes are afoot

5:18 Rough road ahead for the #dividend aristocracy

9:05 #Pricing power, who has it?

14:55 Lack of #investor enthusiasm

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Ed Yardeni, President of Yardeni Research, Inc. and author of Predicting the Markets, A Professional Autobiography, joins Jim for a lively discussion.

1:52 Interest #rates, then and now

4:11: “The #bond market has been rigged”

7:22 #Inflation is the big risk

12:08 Has #macroeconomics succeeded?

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com