Jeremy Grantham
Jeremy Grantham
Robert Jeremy Goltho Grantham CBEis a British investor and co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo, a Boston-based asset management firm. GMO is one of the largest managers of such funds in the world, having more than US $118 billion in assets under management as of March 2015. Grantham is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets, and is particularly noted for his prediction of various bubbles. He has been...
NationalityBritish
ProfessionBusinessman
anyone bad believe change climate government held ideology knows leadership needs news overcoming smell strongly
Libertarians believe that any government interference is bad. Anyone with a brain knows that climate change needs governmental leadership, and they can smell this is bad news for their philosophy. Their ideology is so strongly held that, remarkably, it's overcoming the facts.
country strong believe
You don't actually find a strong correlation between- top-line GDP growth and making money in the market. It- it seems like you should. The fastest-growing countries should give you the highest return. They simply don't. But, there's only four of us- that- that believe that story. Everyone else in the world believes that if you grow fast like China, you'll outperform in the stock market.
believe profit term
Capitalism believes that its remit is exclusively to make maximum short-term profits.
believe matter investing
I believe the only things that really matter in investing are the bubbles and the busts
believe optimistic thinking
The investment business has taught me – increasingly as the years have passed – that people, especially investors (and, I believe, Americans), prefer good news and wishful thinking to bad news; and that there are always vested interests to offer facile, optimistic alternatives to the bad news.
almost believe capable efficient hard incredibly market occasions people rare simply time utterly
The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain around that fact. They want to believe that it's approximately efficient almost all the time, and it simply isn't true.
beings economic human interest people problems rather rational solve standard theory willing
We could solve all our problems if only we were the efficient, rational human beings of standard economic theory and had politicians willing to think in the long-term interest of their people rather than their own.
anyone land money near returns stock
When it comes to portfolios, my personal advice is for anyone who can, put money into forestry or farmland. Long term, you would probably never come near their returns in the stock market. In the world that I see, land is golden.
considered few quite
Bubbles have quite a few things in common, but housing bubbles have a spectacular thing in common, and that is every one of them is considered unique and different.
backbone distant drive food gas industrial natural oil population revolution supply
Low-cost, high-grade coal, oil and natural gas - the backbone of the Industrial Revolution - will be a distant memory by 2050. Much higher-cost remnants will still be available, but they will not be able to drive our growth, our population and, most critically, our food supply as before.
almost eccentric running shared
I have an eccentric view on commodities not necessarily shared by my colleagues - or by almost anybody. And that is, we're running out of everything.
came finite great price resources
We used to live in a world where the price of resources came down steadily, and now the world has changed. You have a great mismatch between finite resources and exponential population growth.
closing family farming owns
The only investable idea I have real confidence in is farming and forestry. My family owns some forest, and now we're closing on a farm. Make the farming more sustainable and the forestry more sustainable, and everyone benefits.
afford cannot few pick seen stocks
As a professional, you can afford to pick some stocks and be wrong about a few of them. To keep your job, you cannot take the risk of being seen to be wrong about the 'big picture' for very long.