The central truth of the investment business is that investment behavior is driven by career risk.
For those with a long horizon, I am sure well-managed forestry and farmland will outperform the average of all global assets.
With hindsight, there are a few additions and qualifications I would like to make regarding my letter on resources of <a href=http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20110426/FREE/110429963>last quarter.</a> I will start with an overview of the prospects for our collective well-being: there is nothing about the resource limitation problem that we cannot resolve. We have the brain power and, especially, the inventiveness.
The legendary investor warns that the world is now a more constrained place -- a place where prices of raw materials will rise and shortages will be commonplace
<i>The following is an excerpt from the quarterly outlook of Jeremy Grantham, co-founder of $94 billion money manager Grantham, Mayo & Van Otterloo LLC. To read the full quarterly commentary, <a href=http://www.gmo.com/websitecontent/JGLetter_SummerEssays_2Q10.pdf>click here. </a></i>
It's spring, and this spring a young man's fancy lightly turns to thoughts of speculation. The Fed's promises look good and, as long as you're not a small business, you can borrow to invest or speculate at no cost.
