"In Valeant, a financialized age has produced a financialized pharma company," Grant wrote in 2014 as shares of the biopharmaceutical stock trended higher.
Two years later, Grant revisits his investment thesis as the shares trade at a five-year low, down 87 percent from their record price reached in August 2015.
Apart from his latest perspective on what could be next for Valeant, Grant also shared his thoughts on the stock market and the Fed.
Can't see the video? Here's how to become a CNBC Pro subscriber.