Given my pronouncement above, is it not odd that The Wall Street Journal has chosen to give Mr. Grantham a beat down? What a travesty and disservice to Journal readers. I remember the same treatment given to another hall of fame fund manager, John Neff, during one of Mr. Neff’s many out-of-phase periods. I have rigorously and diligently followed both Mr. Neff’s and Mr. Grantham’s careers with reverence. And my conclusion, after decades of monitoring, is that an investor could not have found a more dedicated and prescient steward of their funds than either Mr. Grantham or Mr. Neff. I feel honored to have spent so many wonderful years benefiting from the knowledge I have gained from these true masters.
And now the WSJ writes: “Investors are bailing on Jeremy Grantham once again.”
Mr. Grantham, co-founder and chief investment strategist of Boston money manager Grantham Mayo Van Otterloo & Co., has been out of step with the market several times during the firm’s four decades. GMO has usually rebounded, with the 78-year-old investor earning acclaim with asset-bubble calls ahead of Wall Street busts in 2000 and 2008.
Lately, though, the firm is going through one of its roughest periods.
Read more here.
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