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
thinking years wind
The potential for alternative energy sources, mainly solar and wind power, to completely replace coal and gas for utility generation globally is, I think, certain. The question is only whether it takes 30 years or 70 years.
regret moving years
...how little our side of the industry did to move its business to the more ethical firms and to make a fuss about conflicted or unethical behavior. Had a number of us moved our business, we might have slowed or even stopped the 30-year slide in conflicted, unethical behavior that we have experienced. I, for one, regret the modest nature of our moves. We all could have done more. We have tolerated a pretty nasty decline in standards. Shame on us.
animal air years
Investment bubbles and high animal spirits do not materialize out of thin air. They need extremely favorable economic fundamentals together with free and easy, cheap credit, and they need it for at least two or three years. Importantly, they also need serial pleasant surprises in such critical variables as global GNP growth.
years monsters weak
Although value is a weak force in any single year, it becomes a monster over several years. Like gravity, it slowly wears down the opposition.
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.
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.
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.
bleed bonds buying desperate haven money
One day we will have more inflation, and our bonds will bleed like a pig. The only reason for buying long bonds is short-term or as a desperate haven for terrorized investors. But the potential to make longer-term real money is naught.