Gustavo Ballvé on October 28th, 2009
Investment Themes, Portfolio Management, Risk management

The first 4-5 pages are, let’s put it this way, entertaining for their irony. That said, it’s hard to disagree with Mr. Grantham’s conclusion in the latest GMO letter: concentrate your portfolio in quality U.S. stocks with a global earnings mix. We’d extend that to some non-US quality stocks with diversified earnings sources, of course.

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