GMO’s Jeremy Grantham investment letter in May 200 lays out likely possibilities for the direction of the markets and the economy going forward. He outlines what is a high probability outcome of where we go from here.
It is the single best thing I have read this year on the markets, the economy, and the Fed. Grantham manages to take Common Sense and raise it to a brilliance not many market commentators can lay claim to.
His eloquent, sparse writing paint a compelling picture of what we should expect over the next few years. Bottom line: Investors should brace themselves for less than stellar returns.
This is your weekend homework assignment . . .