Feb 10, 2012
- Kristina Monllos
Grantham Touts Energy, Agriculture
Jeremy Grantham, co-founder of GMO, is bullish on energy and agricultural investment themes for the next 10-20 years. In light of the world’s population growth, resources will continue to dwindle, making natural resources a key investment play, Grantham told attendees at NACUBO’s Endowment Management Forum at the Waldorf Astoria in New York.
In particular, Grantham singled out solar energy, farmland and timberland as solid investments for the next 10-20 years. He also noted that copper will become one of the more scarce resources, and will largely be replaced by the more abundant metals such as aluminum and iron ore.
Grantham also regaled the audience with his take on the hedge fund industry. He noted that selecting hedge fund investments is a zero sum game because there are only a few winners who profit at the expense of the majority of funds. “[Selecting] a hedge fund is an interesting game of cannibalism,” he joked.