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  • Jeremy Grantham’s GMO remains bearish even as some deterioration occurs in the market.
  • Ben Inker, GMO’s asset allocation head and Grantham’s right-hand man, told us one area with upside.
  • He also lays out a tailor-made opportunity for the current surging energy-price environment.

Back in January, Jeremy Grantham, the legendary investor and co-founder of the $70 billion asset manager Grantham, Mayo, and Otterloo, said SPACs should be illegal.

He viewed the frenzy forming around special-purpose acquisition companies (SPACS) as a classic bubble, which was also symptomatic of a wider market bubble.

Grantham ended up being right about SPACs.

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