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Notes to myself, possibly of interest to others.
-- Bill Northlich

Thursday, November 11, 2010

Grantham reccomendations

1) Emphasize U.S. quality companies, which are still cheap in an overpriced world.
2) Moderately overweight emerging market equities.
3) Moderately underweight the balance of global equities.
4) Heavily underweight lower quality U.S. companies.
5) Carry extra cash reserves for a volatile market with insecure fundamentals.
6) For the very long term (20 years) overweight resources, particularly if they have a sharp decline.  (This is my personal view rather than that of GMO, which on this topic is agnostic.)

Bill:  This is contrasted with Rosenberg's recco's of 23 Sept:

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