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Jeremy Grantham Wants His Kids to Get Into Emerging Markets

  • 79-year-old says EM stocks will exceed 4.5% real returns
  • Developing-nation shares have rallied 30% in past 12 months
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Jeremy Grantham, the 79-year-old investor known for his bearish views, is so bullish on emerging-market stocks that he’s telling his own kids to invest more than half their retirement money in the asset class.

"What I would own is as much emerging-market equity as your career or business risk can tolerate," Grantham, co-founder of GMO, the Boston-based asset-management company, told investors in a letter last month. It’s the only investment arena with a realistic shot at delivering 4.5 percent real returns annually over a decade, he said.