MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, November 22, 2013 Get Off Grantham's Lawn! Ready. Aim. Grump. Morningstar's John Rekenthaler wrote about a recent letter Jeremy Grantham wrote to shareholders. In the mighty missive, GMO's co-founder and chief investment officer grouses about economics ("it has delusions of hardness or what has been called physics envy"), Nobel laureate Eugene Fama ("who conversely provided a rationale for all of us to walk off the cliff with con?dence, the less said the better"), and the Efficient Market Hypothesis, ("the most laughable of all assumption-based theories"), among other worthy targets. Rekenthaler himself deems the letter "entertaining stuff, made more entertaining by Grantham's delivery." And you thought Bill Gross was opinionated. Printed from: MFWire.com/story.asp?s=46834 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |