Jeremy Grantham is an expert on investing – stocks, bond, commodity markets. The asset management fund GMO, where he’s Chairman of the Board (the ‘G’ stands for Grantham), was responsible for $107 billion at the end 2009. He has a reputation for predicting market bubbles, valuing history, and giving advice that’s worth listening to.
So when Grantham tells investors the equivalent of “you better believe climate change is for real,” this gives me hope. If greed got us into this mess, maybe greed can get us out of it. Ultimately it’s the American way, right?
Unfortunately for investors, Grantham thinks it’s too soon to profit from attempts to stave off global warming.
Global warming will be the most important investment issue for the foreseeable future. But how to make money around this issue in the next few years is not yet clear to me. In a fast-moving field rife with treacherous politics, there will be many failures. Marketing a “climate” fund would be much easier than outperforming with it.
