Jeremy Grantham of GMO Capital is out with his quarterly letter. The letter has three primary parts: 1. Standard Investment Adivce, 2. Tirade against the deficiencies of capitalism, and 3. Investment Observations for 2012. Personally my favorite part was the third part where he covered such topcis as inflation hedges (and their correlation), resource issues (a favorite topic of his), the current European situation, and a brief review of their prior predictions.
As usual the letter is worth reading. Enjoy.
GMO Capital - 2012.02.28