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Grantham: Expect 11% Annual Return from Quality U.S. Equities, Outperformance from Emerging Market Bonds [View article]
I obviously can't speak for Mr. Grantham, but to my way of thinking a "high quality" equity, would be a large, to very large company with at least a decent amount of international sales and a solid balance sheet in a growing, or at the least, "stable" industry.