Jeremy Grantham on Charlie Rose

Jeremy Grantham was on Charlie Rose last week in a rare interview. ┬áNot surprisingly, Grantham is not terribly optimistic. ┬áHere’s a brief summary though his full thoughts are always worth a listen:

  • The global economy is in a long-term slow-down.
  • US annual economic growth will never go back to what it once was (3%+).
  • Population poses a huge hurdle in the US.
  • China is a good growth economy in the short-term, but is a major resource consumer.
  • The biggest problem is natural resource scarcity where prices are rising faster than global growth.
  • He doesn’t think very highly of Alan Greenspan….
  • Bernanke is even more academic and arguably worse then Greenspan was.
  • Foreign equities should perform reasonably well compared to the USA.
  • GMO is underweight global stocks, significantly underweight US stocks.
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Cullen Roche

Mr. Roche is the Founder of Orcam Financial Group, LLC. Orcam is a financial services firm offering research, private advisory, institutional consulting and educational services.

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