WSJ Interviews Jeremy Grantham
Grantham is co-founder and chief investment strategist for GMO, a large Boston asset manager.
Grantham has a well-deserved reputation for calling out asset bubbles, from Japan’s stock market bubble in the 80’s, to the dot com bubble and the mortgage meltdown.
What does he see right now among the prevailing bond and stocks bubbles?
He makes a case similar to The Dollar Meltdown:
… own stock in the ground, own great resources, reserves of phosphorous, potash, oil, copper, tin, zinc—you name it. I’d be less enthusiastic about aluminum and iron ore just because there is so much….
… and the most important of all is food. The pressures on food are worse than anything else… everything is overpriced today, once again, courtesy of incredibly low interest rates that push people into investing. A wicked plot of the Federal Reserve.