haha
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
"From a very long-term perspective, inflation [FONT=Times New Roman,Times New Roman][FONT=Times New Roman,Times New Roman]should be a wash for equities.
[/FONT][/FONT]This is confirmed by Exhibit 22, the inspiration for which came from reading William Bernstein’s excellent [FONT=Times New Roman,Times New Roman][FONT=Times New Roman,Times New Roman]Deep Risk[/FONT][/FONT]. It shows the real return to various international equities against their long-term inflation rates. It is important to note that for equity holders there has never been a permanent impairment of capital caused by inflation. Even Germany, with its hyperinflationary episode, and Italy, with its chronic inflation, have managed to deliver positive real returns."-James Montier, GMO
To read the entire long article, go to http://www.gmo.com/America/MyHome/default
and choose Montier, Dec 2013 "No Silver Bullets"
Ha
[/FONT][/FONT]This is confirmed by Exhibit 22, the inspiration for which came from reading William Bernstein’s excellent [FONT=Times New Roman,Times New Roman][FONT=Times New Roman,Times New Roman]Deep Risk[/FONT][/FONT]. It shows the real return to various international equities against their long-term inflation rates. It is important to note that for equity holders there has never been a permanent impairment of capital caused by inflation. Even Germany, with its hyperinflationary episode, and Italy, with its chronic inflation, have managed to deliver positive real returns."-James Montier, GMO
To read the entire long article, go to http://www.gmo.com/America/MyHome/default
and choose Montier, Dec 2013 "No Silver Bullets"
Ha
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