Financial thought leader James Grant warns about the dangers facing the highly leveraged private equity and private credit markets from higher interest rates and inflation. Of particular concern are large positions in insurance company portfolios.<br>WEALTHTRACK episode 2251 broadcast on June 19, 20206

Private Equity Dangers Are Rising Says Financial Thought Leader James Grant

WEALTHTRACK

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**Podcast:** WEALTHTRACK

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[SPEAKER_B] The risk is considerable. Private equity has taken a keen interest in the life insurance companies.

[SPEAKER_D] On WealthTrack, the risks insurers face from private equity.

[SPEAKER_E] Funding provided by ClearBridge Investments, the Fairholme Foundation, First Eagle Investments, Bill Miller, Miller Value Partners, Baird, Strategus Asset Management, Research Affiliates, Royce Investment Partners, Seafarer Capital Partners, and Women Investing in Security and Education.

[SPEAKER_D] Hello and welcome to this edition of WealthTrack. I'm Consuelo Mack. Two notable events have been in the news of late. One is the problem arising in what is called private credit, that is lending by investors to private companies that otherwise might not get financing because they are either not creditworthy or don't have access to the public debt or stock markets. The other, of course, is the celebration of the 250th anniversary of the Declaration of Independence, otherwise known as semi-quincentennial of said document. That is a word that only this week's guest would use or pronounce properly, which is why I invited him on to enlighten us. He also knows a thing or two about private credit and other debt instruments. He is James Grant, financial thought leader, historian, founder, and editor of Grant's Interest Rate Observer, a twice-monthly journal he launched in 1983 that is widely followed by institutional investors. Grant is also the author of 10 books on finance and financial history, his most recent being Friends Until the End: Edmund Burke and Charles Fox in the Age of Revolution. And another more closely related to our American moment is John Adams: Party of One, a biography of the second U.S. president. I began the interview with a current financial concern, the challenges faced by private equity and private credit. How worried should investors be?

[SPEAKER_B]...

Private Equity Dangers Are Rising Says Financial Thought Leader James Grant

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Private Equity Dangers Are Rising Says Financial Thought Leader James Grant

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.