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Excellent Article by Jeremy Grantham


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Mr. Grantham compares the USA today from the perspective of Eisenhower's thoughts in his departure speech in 1961.




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Ike's famous speech, warning about the growth of the "military- industrial complex" has an interesting footnote.  Ike's first draft described the "military- industrial- congressional" complex. However, diplomat that he was, Ike edited the new term and removed the word, congressional, lest he offend those who were at the heart of the problem, but key to its solution.

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From re-reading the 3Q2010 letter, from the take-aways I see two interesting points:


1. Favor U.S. quality companies (still cheap in an overpriced world)


2. Have some cash on hand, for opportunities that arise.


What is the title of the "Excellent Article" (I assume it is something much more recent).

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