Inflation, Rates, and Recession Risks

Ms. Courmes is engaged in portfolio management and research for GMO’s Emerging Country Debt team. She is primarily responsible for the team’s local currency debt portfolio and is also the team’s lead liaising with the Developed Rates & FX team’s quantitative researchers on currency and interest-rate strategies. Prior to joining GMO full-time in 2016, she worked at Acadian Asset Management as an Associate Portfolio Manager in Emerging Markets Local Bond Funds. Previously, she worked at Lord Abbett as an International Economist and Currency/ Local Rates Strategist. Ms. Courmes earned her bachelor's degree in Political Science from Barry University and her MA in International Relations from the School of Advanced International Studies at John Hopkins University.

Mr. Grantham co-founded GMO in 1977 and is a member of GMO’s Asset Allocation team, serving as the firm’s long-term investment strategist. He is the Chairman of the GMO Board of Directors, a partner of the firm, and has also served on the investment boards of several non-profit organizations. Prior to GMO’s founding, Mr. Grantham was co-founder of Batterymarch Financial Management in 1969 where he recommended commercial indexing in 1971, one of several claims to being first. He began his investment career as an economist with Royal Dutch Shell. Mr. Grantham earned his undergraduate degree from the University of Sheffield (U.K.) and an MBA from Harvard Business School. He is a member of the Academy of Arts and Sciences, holds a CBE from the UK and is a recipient of the Carnegie Medal for Philanthropy.

Ms. LeGraw is a member of GMO’s Asset Allocation team and a partner of the firm. Prior to joining GMO in 2013, she worked as a director at BlackRock. Previously, Ms. LeGraw was an analyst at Bear, Stearns & Co. She received her BA and her BS in Economics from the University of Pennsylvania. She is a CFA charterholder.

Mr. Montier is a Senior Advisor to GMO, consulting on economic and market research. Prior to joining GMO in 2009, he was co-head of Global Strategy at Société Générale. Mr. Montier is the author of several books including “Behavioural Investing: A Practitioner’s Guide to Applying Behavioural Finance”; “Value Investing: Tools and Techniques for Intelligent Investment”; and “The Little Book of Behavioural Investing.” Mr. Montier is a visiting fellow at the University of Durham and a fellow of the Royal Society of Arts. He holds a BA in Economics from Portsmouth University and an MSc in Economics from Warwick University.

Mr. Pease is a member of GMO’s Asset Allocation team. Prior to joining GMO full-time in 2016, he was an intern with the Asset Allocation team. Mr. Pease earned his Bachelor of Science in Economics and his Master of Science in Economics from Pontificia Universidade Catolica do Rio de Janeiro.

Dr. Ross is engaged in research for GMO’s Emerging Country Debt team and a partner of the firm. He leads the team’s research in fundamental sovereign credit, with a primary emphasis on Asia, Emerging Europe, Middle East, and Africa. Prior to joining GMO in 2014, he was a managing director at Oppenheimer & Co. Inc. where he covered emerging debt markets. Previously, he was the Senior Managing Director and Head of Emerging Markets Fixed Income Research at Bear Stearns & Co. Dr. Ross earned his bachelor's degree in Economics from Mount Allison University, as well as his MA and PhD in Economics from Georgetown University.

Mr. Thorndike is Co-Head of GMO’s Asset Allocation team and a portfolio manager for the team’s products. Mr. Thorndike is a partner of the firm. Mr. Thorndike currently oversees asset selection and portfolio construction decisions, as well as team management responsibilities. Prior to joining GMO in 2015, he was a managing director and Deputy CIO at The Investment Fund for Foundations. Previously, he was an analyst with TIFF. Mr. Thorndike earned his bachelor's degree in Physics from Bowdoin College.