Jeremy Grantham got rich steering clients away from bubbles in late-1980s Japan, in turn-of-the-century tech stocks and in U.S. housing before the 2008 financial crisis. Now, the 83-year-old co-founder of Boston investment company GMO admits he may be benefiting from another bubble — in green investing.
This time, the value investor known for pessimism sounds downright sunny. He says the plan he laid out years ago to pour nearly his entire $1-billion-plus fortune into the climate-change fight is working. He’s making lots of money, while recruiting other superwealthy people to pursue similar strategies that mix philanthropy and investing.
