Is This the Market of a Lifetime?

Years of harboring a gloom-and-doom outlook gave Jeremy Grantham,chairman of Boston-based as- set manager GMO,the reputation of be- ing a pcrma-bcar.Talk to him now, though,and the 70-year-old is

Years of harboring a gloom-and-doom outlook gave Jeremy Grantham, chairman of Boston-based asset manager GMO, the reputation of being a perma-bear. Talk to him now, though, and the 70-year-old is almost gleeful. Stocks, he says, are cheaper than they＇ve been since 1987, Like another value investor, Warren Buffett, Grantham is buying, with a focus on high-quality U.S. blue chips and emerg- ing markets. ＂This is what serious investors should look for,＂ he says.