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GMO Latest

sma3
in Other Investing
https://www.gmo.com/americas/research-library/american-unexceptionalism_gmoquarterlyletter/

While it may sound like continued data to defend their decades long sluggish performance because of over emphasis on Emerging Markets and International stocks, they have some very interesting data about comparisons of growth rates between US and international equities.

A lot of US results are due to the Dollar and increasing valuations. If both of these are as high as they can go and due to fall it will not be positive for US equities

Comments

  • mskursh
    Jeremy's next big prediction after getting the real estate fiasco correct was to begin heavily divesting from us markets and focusing on emerging markets. He has basically reiterated that stance for 15 years. since then, emerging markets have been 4X'ed by the US market. So eventually they'll be right. but to the normal investor who invests some in international, its going to take quite a correction to make up for 15 years of garbo returns in VWO.

    signed person who overweights EM in his international allocation and has for 7 years.
  • a2z

    if one covers enough grantham material, it is clear that his experience prioritizes survival\defense over timing bubbles.
    he has long since abandoned AUM as any kind of marker for his strategy; GMO is far above the minimum needed for a firm its size to continue.
  • mskursh
    He was on a episode of the Compound with Josh Brown and Michael Batnick. I was super impressed with Grantham and his ability to speak intelligently about markets, the past, future estimates. But I still can't get around how poorly he's navigated the past 15 years.
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