Welcome

GMO is a global investment management firm committed to providing sophisticated clients with superior asset management solutions. Our sole business is investment management and, as a private partnership, we are accountable only to our clients and to ourselves. We forge strong partnerships with our clients, managing their money as if it were our own and offering them honest counsel. Our deep and talented investment teams are highly experienced and forward-thinking, investing with focused expertise in a wide range of asset classes.

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Investment Results: We believe that valuation-driven investing with a long horizon will achieve the best risk-adjusted returns.
In-Depth Analysis and Research: We combine rigorous fundamental analysis with innovative quantitative methods to understand the long-term drivers of returns.
Our Clients: We provide our clients with candid investment advice.

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Research & Commentary

GMO Quarterly Letter

Emerging equities are more volatile than developed market equities. This owes little to the volatility of emerging stock markets in local terms and much more to the strong positive correlation between their local stock markets and movements in their currencies. The spring of 2018 was a classic example of this, with USD strength driving significant emerging weakness. Emerging markets do exhibit momentum, so it would not be odd for the weakness to persist for another quarter, although after transaction costs the momentum effect is probably not capturable. Our analysis of the underlying fundamentals for emerging markets, on the other hand, gives us confidence that the assumptions behind our forecasts are sound and emerging value stocks represent the most attractive asset we can find by a large margin, and in the longer term we believe valuation is much more predictive of returns for emerging than momentum is.

Updates & Research

The Race of Our Lives Revisited -- Jeremy Grantham
Multi-Asset Class Strategies: How Do I Use Thee? Let Me Count The Ways. -- Peter Chiappinelli
Emerging Debt in a Rising Interest Rate Environment -- Carl Ross
ESG: Improving Your Risk-Adjusted Returns in Emerging Markets -- Binu George and Hardik Shah
Trade Wars are Bad, and Nobody Wins -- Ben Inker
GMO Press Release -- GMO Update

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Featured Video

Riding a Market Melt-Up then Coping with the Melt-Down
Jeremy Grantham, Founder and Chief Investment Strategist at GMO, appears on Consuelo Mack WealthTrack where he discusses his personal market melt-up thesis.

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Keeping the Faith in Value Investing
Ben Inker, Co-Head of GMO’s Asset Allocation team, discusses the advantages of long-term valuation-based investing and why GMO is Keeping the Faith in this approach.

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