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Grant’s Interest Rate Observer is an independent, value-oriented and contrary-minded journal of the financial markets. We publish 24 times a year. Our mission is to identify investment opportunities in a range of markets at both extremes of valuation, high and low alike. A typical 12-page issue is likely to contain a long idea, a short idea, a macroeconomic comment and a monetary or credit analysis (and, of course, one of our famous cartoons). Without bragging, we like to think that we are the financial-information medium that least resembles CNBC.