Jeremy Grantham: keen on emerging markets

Value investor Jeremy Grantham sees better opportunities in emerging markets than in the US over the long term.

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Jeremy Grantham, co-founder, GMO
(Image credit: 2016 Patrick McMullan)

"You can't get blood out of a stone." That's the view of value investor Jeremy Grantham on US stocks. "At these prices... over a long horizon like 20 years the US market will be delivering 2% or 3% real" versus 6% on average over the last century or so, he tells CNBC. "It's going to break a lot of hearts when we're right."

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