Jim Grant turns bullish on MetLife (MET), an outstanding, well-managed franchise currently...
Tuesday, November 13, 2012, 2:53 PM ETJim Grant turns bullish on MetLife (MET), an outstanding, well-managed franchise currently weighed down by nearly invisible interest rates. Company brass had the foresight to hedge against low rates in 2004 - a bet that's paid off with more than $500M - and unload Stuyvesant Town at the peak of the property boom. Trading at just 0.7X book and yielding 2.3%, a patient investor can wait out the Fed's ZIRP.
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