On the road to zero growth

Jeremy Grantham | GMO | 20 November 2012

There are a few newsletters that are must reads for all investment professionals - Warren Buffett's annual shareholder letter, Gary Shilling's Insight, Bill Priest's quarterly update, for example - and GMO co-founder and chief investment strategist, Jeremy Grantham's quarterly newsletter.

Summary

The US GDP growth rate that we have become accustomed to for over a hundred years – in excess of 3% a year – is not just...