This Bear Is Buying (Certain) Stocks

Jeremy Grantham sees deep-seated and long-lasting problems in the developed world. But he likes foreign stocks and high-quality U.S. stocks.

When you look at what's going on in Europe and Japan, and the massive problems that we still face in the U.S., it's hard to be bullish these days. And Jeremy Grantham isn't.

But, surprisingly given his gloomy views, he finds some stock groups attractive. What he likes: large-capitalization foreign stocks, emerging-markets stocks and high-quality U.S. stocks. I think his bearish views, as well as his stock picks, are right on the money.

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Steven Goldberg
Contributing Columnist,
Steve has been writing for Kiplinger's for more than 25 years. As an associate editor and then senior associate editor, he covered mutual funds for Kiplinger's Personal Finance magazine from 1994-2006. He also authored a book, But Which Mutual Funds? In 2006 he joined with Jerry Tweddell, one of his best sources on investing, to form Tweddell Goldberg Investment Management to manage money for individual investors. Steve continues to write a regular column for and enjoys hearing investing questions from readers. You can contact Steve at 301.650.6567 or