Jim Grant: Buy these 'loathed' and 'detested' stocks

Jim Grant of Grant's Interest Rate Observer is recommending the purchase of some of the world's most "loathed" and "detested" securities: Russian oil stocks.

Grant told CNBC's "Closing Bell" that Lukoil, Rosneft and Gazprom are very inexpensive because they're so unpopular, but he thinks they have solid fundamentals and solid yields.

The ADRs trade with little volume in the U.S. Grant notes there's much better liquidity for them in London.