Ben Inker — Jeremy Grantham’s Heir Apparent on the Future of Asset Allocation

Published on
September 24th, 2020
Duration
64 minutes

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24

Ben Inker — Jeremy Grantham’s Heir Apparent on the Future of Asset Allocation

The Interview ·
Featuring Ben Inker

Published on: September 24th, 2020 • Duration: 64 minutes

Everyone knows Jeremy Grantham as the face of GMO, the behemoth money manager that has become legendary for its work on asset allocation, but Ben Inker, head of asset allocation at GMO since 1998, seems to be next in line for the throne. In this interview with Ed Harrison, Inker helps viewers make sense of the post-COVID investment landscape from the perspective of a major asset allocator. Together they discuss everything from the future of the 60/40 portfolio to bonds as an asset class in this new low rate world. They also dig in to US vs. non-US assets, the trouble with popular ex-post facto explanations for FAANG outperformance and narrative bubbles like Tesla, and why the financial sector can be so difficult to value. Filmed on September 21, 2020.

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Transcript

Chapters

  1. 00:01:55
    Intro to GMO: Asset Allocation and Beyond
  2. 00:05:07
    Has Everything Changed for Asset Allocators?
  3. 00:10:25
    Making Sense of FAANG Dominance
  4. 00:15:47
    Speculative Fervor and Narrative Bubbles
  5. 00:22:28
    Valuations and Bonds in Today's Low Rate World
  6. 00:31:56
    7-Year Outlook and Return Forecasting
  7. 00:47:02
    The Biggest Changes Coming Out of COVID
  8. 00:52:18
    US vs. Non-US Assets
  9. 00:56:35
    The Trouble with Valuing the Financial Services Sector