MutualFundWire.com: Get Off Grantham's Lawn!
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
Back to Top