Jan 28

Top read on Asset Class Bubbles

A couple of days ago Jeremy Grantham (the G in GMO) published his latest quarterly newsletter (click here) in which there’s an excellent article on Asset Class Bubbles. I won’t bore you with my own re-interpretation of the newsletter but I just wanted to point out my appreciation for Grantham’s first chart explaining “the way the Investment World goes around”…

Source: GMO Quarterly Letter – Jan 2011

…i.e. “Career risk drives the institutional world”.

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