Legendary investor Jeremy Grantham spoke at a value investing conference today in Toronto.
According to The Globe And Mail’s Martin Mittelstaedt, Grantham recommend three long-term investments: natural gas, copper ore, and phosphorus.
His thesis on natural gas was particularly aggressive.
He believes that the current supply glut, which is keeping prices low, will soon reverse and cause prices to explode.
According to Mittelstaedt, Grantham believes in five years “the price will have tripled.”
Furthermore, he believes that pair the trade with a short position in corn could be a good idea. He noted that poor harvests have sent prices higher for three years. He doesn’t believe that’ll happen for a fourth.
Read more at TheGlobeAndMail.com.