Debunking Grantham’s Concerns
“For some months now, Jeremy Grantham, a respected market strategist with GMO, an institutional asset management company, has been railing about the efficient market hypothesis.”
So began a June 6, 2009, New York Times article by Joe Nocera. He went on to note: “While Grantham was an early advocate of index funds for unsophisticated investors he believes that professionals should do better precisely because the market is full of major league inefficiencies.”
One of my favorite hobbies is collecting opinions such as Grantham’s and saving them for review at a later date. I saved this one because Grantham is one of the market’s most respected value investors, and his views often receive wide media coverage. Grantham has been “railing” for some time now about the market being vastly overvalued.
Read the rest of the article on ETF.com.
