If you have a 401(k) and you’re of a nervous disposition, you probably don’t want to look at the chart above.

Even by the standards of GMO, the super-cautious money management firm in Boston best known for its famous co-founder Jeremy Grantham, it’s terrifying.

It shows about the worst medium-term forecasts on record for pretty much all the assets most of us own in our retirement accounts. Large company U.S. stocks like the S&P 500
SPY,
+0.88%

? Small company U.S. stocks like the Russell 2000
RUT,
+1.88%

? International stocks? U.S. bonds, foreign bonds, inflation-protected bonds? GMO thinks if you buy them now and hold them over the next seven or so years, they will all – all—lose you money in real, purchasing-power terms.

In the case of some of these mainstream investments, the predicted losses are huge. Those 8% and 8.5% annual losses…

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