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City Baku / / Company BP / GMO LLC / S&P / Bloomberg / / Continent Europe / / Country Switzerland / Venezuela / Saudi Arabia / Italy / Iran / Sweden / Zimbabwe / Turkey / Japan / Russia / United States / Brazil / Canada / Australia / Korea / United Kingdom / China / Argentina / Iraq / India / Denmark / / Currency USD / / Event Reorganization / / Holiday New Year's Day / / IndustryTerm oil price / energy industries / oil usage / oil market / oil supply / oil price decline / oil halves / oil experts / natural gas / oil balance / oil resources / oil / energy / oil efficiency / Oil company bankruptcy / higher oil prices / long-term future oil demand / longer-term oil prices / oil industry history / potential oil demand / oil production / oil demand / oil prices / oil producing country / recent oil consumption / / MarketIndex S&P 500 / MSCI World / / Organization Organization of Petroleum-Exporting Countries / Greek government / European monetary union / / Person Equities Has Been Greatly Exaggerated / Ben Inker / Jeremy Grantham / Jack Bogle / / Position driver / official / / ProvinceOrState Texas / Pennsylvania / / Region Brazil South Africa / South Africa / Middle East / / SocialTag 
GMO Quarterly Letter 4Q 2014 Table of Contents Ditch the Good, Buy the Bad and the Ugly