Jeremy Grantham Buys Some Gold

By on May 24, 2010

Jeremy Grantham has never liked gold as an investment:

“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,” Grantham said, according to an account of the comments by Robert Huebscher of investment advice provider Advisor Perspectives. “It is the last refuge of the desperate.”

However, that didn’t stop him from taking a position in the yellow metal.

Grantham, a longtime skeptic of gold’s value to an investor, told the CFA Institute that having decided he can’t beat the gold bugs, he is holding his nose and joining them.

Source: Fortune

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