Diary: Grahntam on quality

Grantham Dec 2012 recommends:

Avoid lower quality U.S. stocks but otherwise have a near normal weight in global equities. Tilt, where possible, to safety. I like (personally) resources in the ground on a 10-year horizon, but I am nibbling in very slowly ... I believe chances for further price declines in resources are still better than 50/50 as China and the world slow down for a while