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GMO's Sobering Forecast for Stock and Bond Returns

U.S. stocks, particularly small caps, and bonds look unattractive overall, but low-double-digit nominal returns are possible for emerging-markets value stocks, says GMO's Ben Inker.

Christine Benz: Hi, I'm Christine Benz for Morningstar.com. Should investors temper their expectations for future stock and bond returns? At the Morningstar Institutional Conference, I interviewed GMO's Ben Inker about his firm's asset-class-return forecasts.

Ben, thank you so much for being here.