There is a saying that "It's not what you know" but "Who you know" in life, that is the most important thing for making progress. There is of course truth to this saying. Getting to the right people for any particular endeavor in life is a combination of research, persistence, creativity, connections and luck as well as a good dose of courage. Fearless entrepreneurs and investors have persistence and courage in spades and you only need to read a few biographies to know that meeting the right people can be a process that takes a few rounds of trial and error. Their vision of "what can be" or "What is" drives them in their pursuit of success. Everyone can do well with the right mentors.

Today, we are going to write less and let you listen to Jeremy Grantham, a veteran investor whose bio is below. In this interview, Grantham share his views on the markets as well as US and global equities. It is well worth listening to.

Robert Jeremy Goltho Grantham born 6 October 1938) is a British investor and co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO), a Boston-based asset management firm. GMO has more than US$118 billion in assets under management as of March 2015. Grantham is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets, and is particularly noted for his prediction of various bubbles. Grantham started one of the world's first index funds in the early 1970s.

The link to the interview is below.

You will find the video half way though the article.

And as a bonus, we think it's worth looking at this report by the world bank. They are forecasting the most difficult recession since World War 2.

While the scenarios discussed by Jeremy Grantham or the world bank may or may not play out exactly as they envisage, it is also more than likely that the best case scenarios being painted by the current bulls on Wall Street are also likely not going to play out as they see it.

As we have said before, caution is in order until some of the "unknowns" become more "known". If you have questions about your financial situation please reach out to schedule a free consultation.