If you ever find yourself talking to Jeremy Grantham
, remember to stick to just 10 subjects.
| Jeremy Grantham|
Co-Founder, Chief Investment Strategist
photo credit: Jim Tweedie, Tweedie-Wyckoff Photography
Yesterday the famously contrarian GMO
PM delivered the opening keynote address, "Investment Bubbles In A World That Is Different This Time," at the 2015 Morningstar Investment Conference
. He spoke to a packed ballroom of rapt financial advisors, and warned conferees that there are only 10 subjects they can ask him about in the subsequent Q&A.
"I am totally free to obsess about important issues that interest me," Grantham said.
Here are the 10 subjects that are within bounds for Grantham.
- The "limitations of homo sapiens": "I am not pessimistic, by the way," Grantham said. "It's you guys that are optimistic."
- "longer-term resource limitations"
- "climate problems"
- "food problems"
- income inequality
- "pressure on GDP growth in the developed world": "The low-hanging fruit is mostly gone. Facebook is not the steam engine."
- worries about loss of corporate responsibility, and modern democracy and capitalism
- "deficiencies in the Fed", and
- investment bubbles, which was the main subject of his talk yesterday.
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