“Indeed, he said there are all the indications of a “thoroughly miserable middle America.”
That is obvious from the suicide rate and the addiction rate, according to Grantham.”
Have profit margins risen to a permanently higher plateau? Are average Americans better off than they were a generation ago?I had the opportunity to discuss those questions, which are centrally important to investing and economic policy, with Jeremy Grantham a couple of weeks ago.
The discussion took place as part of a larger interview about climate-change investing. Grantham is the co-founder and chief investment strategist of Boston-based Grantham Mayo Van Otterloo (GMO).
It’s been widely reported that over the last 20 years the number of publicly traded companies has decreased by about 50%. The common explanations center on the fact that the number of de-listings, mergers, acquisitions and…
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