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The GAMCO Blog |
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October 08, 2009 at 14:12 |
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| 19th Annual Graham & Dodd Breakfast |
Gabelli Funds had the privilege of sponsoring the global audience at the 19th Annual Graham & Dodd breakfast in New York on October 7, 2009.
Dean Glenn Hubbard noted that like the British Empire, the Sun would not set on this Graham & Dodd Seminar thanks to GAMCO’s (Gabelli Funds) underwriting of the broadcast in London & Hong Kong.
In thanking Gabelli Funds, Bruce Greenwald noted that this was the first time the event was broadcast in Hong Kong.
The keynote speaker, Jeremy Grantham, presented his “bubbly” address on the virtues of the vestal virgins of the top quartile of quality companies in the S&P 500. He argued that macro factors have a place in Value investing, especially in the absence of lock-ups like Warren Buffett’s and that concerns about job security and the pressure to stay with the crowd are the true culprits behind market bubbles.
Grantham ended on a wistful note – that the recent market turmoil would drive the nuclear engineers and physicists out of the hedge fund arena and back to innovating in the real economy for future generations.
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Because the portfolio managers at GAMCO and our affiliates make individual
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these accounts may have transactions inconsistent with the information contained
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