Jeremy Grantham is a portfolio manager who 1998 correctly predicted that the annualized return of the S&P 500 would be zero over the next decade. In the latest Smart Money, he was asked about his favorite sectors for long-time investments. His views are interesting:
The people who move quickly in this market can make money. The people who invest in energy alternatives will make more. Alternative energies and combating climate change are the single most important economic initiatives over the next 10 years–really over the next 50 years. It will be a very exciting next 50 years.
