Ben Inker: 'The Portfolio We're Running Today Is Abnormal Even for Us'

<p>Our guest on the podcast is Ben Inker. Ben is GMO's head of asset allocation. In that capacity, he leads GMO's asset-allocation team and is a member of the firm's board of directors. He joined GMO in 1992 after obtaining his bachelor's in economics from Yale University. Prior to assuming his current role, Ben was an analyst on GMO's quantitative equity and asset-allocation teams, a portfolio manager of various equity and asset-allocation portfolios the firm offers, co-head of international quantitative equities, and CIO of quantitative developed equities. Ben is a CFA charterholder.</p></p><p><p><strong>Background</strong></p></p><p><p><a href="https://www.gmo.com/americas/people/investment-teams/" target="_blank">Ben Inker bio</a> </p></p><p><p><a href="https://www.gmo.com/americas/research-library/?author=6ea661dd-d145-4253-9121-8c1bfd686cb7" target="_blank">Ben Inker articles</a> </p></p><p><p><a href="https://www.gmo.com/americas/research-library/" target="_blank">GMO’s Research Library</a> </p></p><p><p><a href="https://www.morningstar.com/funds/xnas/gmwax/quote" target="_blank">GMO Global Asset Allocation</a></p></p><p><p><strong>Asset Allocation</strong><br /></p><p><a href="https://www.gmo.com/americas/research-library/gmo-7-year-asset-class-forecast-2q-2020/" target="_blank">GMO 7-Year Asset-Class Return Forecast, 2Q 2020</a> </p></p><p><p>“<a href="https://www.gmo.com/americas/research-library/1q-2020-gmo-quarterly-letter/" target="_blank">Uncertainty Has Rarely Been Higher; Oddly, Neither Has the Stock Market</a>,” by Ben Inker and Jeremy Grantham, June 4, 2020. </p></p><p><p>“<a href="https://www.barrons.com/articles/u-s-stocks-are-risky-what-gmos-ben-inker-says-to-buy-instead-51590192015" target="_blank">Stocks Are Too Risky. What GMO’s Inker Says to Buy Instead</a>,” by Jack Otter, <em>Barron’s</em>, May 24, 2020. </p></p><p><p><a href="https://www.investopedia.com/terms/m/meanreversion.asp" target="_blank">Mean reversion definition</a>, Investopedia.</p></p><p><p><a href="https://www.gmo.com/ame