Jim Grant turns bullish on MetLife (MET), an outstanding, well-managed franchise currently...

|By:, SA News Editor

Jim 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.