GMO doubles down on resources call

Jeremy Grantham, the ‘G’ behind Boston-based fund manager GMO, says long-term investors should gradually raise their allocation to resources up to 30%, on the back of food shortages he expects to worsen. Although these days it seems even ‘long term’ investors can’t focus beyond the latest Fed or ECB declaration, Grantham says “sensible long-term investors’ 7- to 10-year horizons should overweight resources,” adding that 30% is about two times current market weight. In his quarte…