While Warren Buffet's annual letter received all the attention this weekend, I am one more likely to be trying to catch what GMO's Jeremy Grantham is espousing. Both of course are quite brilliant men. As the title indicates it's a bit on the long side but Grantham starts with a Shakespearean angle (Hamlet!), giving us his 10 points of investing advice. The next portion is titled "Your Grandchildren Have No Value (and Other Deficiencies of Capitalism", and then he finishes the quarterly letter off with his market outlook – which is not actually that bearish. Anyhow, always a sharp read.
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund's holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog