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Peak Earth?
Jeremy Grantham (MBA ’66), founder and chief strategist of the Boston-based asset-management firm GMO, writes a quarterly letter to investors that has become a must-read not only for the financial community but also for anyone concerned about climate change, resource depletion, and the environment. Grantham, whose firm manages more than $100 billion in assets, told the New York Times (August 14, 2011) that “the rather burdensome thought is that people won’t listen to environmentalists, but they will sometimes listen to people like me.” He explained that “people are naturally much more responsive to finite resources than they are to climate change. Global warming is bad news. Finite resources is investment advice.”
Grantham, who has established a foundation to raise awareness about environmental issues and promote collaboration within the green movement, sees dark decades ahead and potential disaster if we don’t change our ways. “The market is sending us the mother of all price signals,” he said. “If we maintain our desperate focus on growth, we will run out of everything and crash.” Yet Grantham also held out hope, noting, “With foresight and thoughtful planning, this suffering is completely avoidable.”
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