Prompted by Can of Corn’s Morning Coffee today, your author went searching for recent market comments made by Jeremy Grantham, head honcho of GMO in Boston and the insto investor’s insto investor. And sure enough, on Monday at the big CFA conference he said this about gold:
“I hate gold. It does not pay a dividend, it has no value, and you can’t work out what it should or shouldn’t be worth. It is the last refuge of the desperate. I was so sick of it going up that I thought I’d kill it. I bought some last Friday.“
I liked that a lot. He also had plenty more to say about potential investments, as this link will detail. Worth a read to pick the brains of one of the market’s smartest people.