GMO's Benchmark Free portfolio is significantly underweight U.S. equities (versus their market weight) and overweight emerging markets by 2x, reflecting a contrarian bet against the 70-point S&P outperformance since 2010 and positioning for eventual mean reversion.
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Evidence Quote
“the United States is is you are very or they are very underweight the United States they have twice as much exposure and emerging market stocks than they do in the United States”
Created: 8/11/2026, 1:03:18 AM
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