I published the first part of Jeremy Grantham’s quarterly newsletter, “Obama and the Teflon Men, and Other Short Stories (Part 1) on this site a few weeks ago. The second part of the newsletter by the chairman of Boston-based GMO has also now been published.
Whereas Part 1 included thoughts on the recent loss of perceived wealth and President Obama’s appointments in the financial arena, Part 2 deals with value traps, transitioning from bubbles to busts, ethics in the financial industry, and the value of GMO’s asset allocation expertise in an environment of “near certainties”.
Click the links for the two parts of the newsletter: Part 1 and Part 2.
Source: Source: Jeremy Grantham, GMO, January 2009.
