2016 Strategic Investment Conference – 05-26-2016 Greetings!
“The problem with human beings is that they buy what they wish they had and they sell what they are going to need.”
– Mark Yusko
Yusko took the stage Thursday morning and told a story about a time in 1999 when he served as the chief investment officer of the University of North Carolina endowment. He presented to his board in December 1999 and showed them the GMO 10-year forward annualized return predictions. GMO had advised investors to expect a negative 1.9% over the coming decade (annualized per year for ten years from 2000 – 2010).
A board member told him, “I don’t ever want to hear you say GMO again,” citing his view that...
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