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There aren't too many investment thinkers more respected than Jeremy Grantham. Grantham has been quite vocal about the fact that the long-term investor should be looking to buy "things in the ground," things in the ground such as oil, timber, etc.
In the investment business there is almost always someone on the other side with the exact opposite opinion. Where Grantham might tell you to run from government bonds that pay you next to nothing and offer you huge exposure to rising interest rate and buy commodities, Gary Shlling would tell you to sell commodities and buy government bonds.
So in an effort to consider the other side of Grantham, here is Steve Forbes interviewing long time Treasury bond bull Gary Shilling:
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