One of Wall Street's must reads is Jeremy Grantham's quarterly letter. Below is this quarter's, entitled Summer Essays  (hit 'full screen' for easier reading)  Often Grantham and I agree - in fact in this letter he throws in the towel on inflation - and points to deflation, says U.S. multinationals are a great play, and points to foreign emerging markets over Western developed.  This all sounds quite familiar.

Jeremy Grantham, GMO - Summer Essays - 071910

[Apr 26, 2010:  Jeremy Grantham GMO April 2010 Letter]

[Jan 26, 2010: Jeremy Grantham GMO January 2010 Letter]
[Oct 27, 2009: Jeremy Grantham GMO October 2009 Letter]