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Americans are just about the worst at dealing with long-term problems, down there with Uzbekistan, but they respond to a market signal better than almost anyone. They roll the dice bigger and quicker than most.
Jeremy Grantham
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Jeremy Grantham
Age: 86
Born: 1938
Born: October 6
Investor
Manager
Herts
Robert Jeremy Goltho Grantham
Dice
Problems
Signals
Worst
Respond
Almost
Dealing
Term
Anyone
Roll
Uzbekistan
Problem
Market
Signal
Better
Bigger
Quicker
Long
Americans
More quotes by Jeremy Grantham
If stocks are attractive and you don't buy, you don't just look like an idiot, you are an idiot.
Jeremy Grantham
You don't get rewarded for taking risk you get rewarded for buying cheap assets. And if the assets you bought got pushed up in price simply because they were risky, then you are not going to be rewarded for taking a risk you are going to be punished for it.
Jeremy Grantham
I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.
Jeremy Grantham
At least us old men remember what a real bear market is like, and the young men haven't got a clue.
Jeremy Grantham
Market timing, by the way, is a tag some buy-and-hold investors use to put down anything that involves using your brain. These are the same people who like to watch the locomotive coming and get run down in the name of discipline.
Jeremy Grantham
Remember that history always repeats itself. Every great bubble in history has broken. There are no exceptions.
Jeremy Grantham
It is better to be lucky than good, but of course appropriate to aspire to both.
Jeremy Grantham
The language it's too late is very unsuitable for most environmental issues. It's too late for the dodo and for people who've starved to death already, but it's not too late to prevent an even bigger crisis. The sooner we act on the environment, the better.
Jeremy Grantham
The pure administration of Graham-and-Doddery really needs a long-term lock-up like Warren Buffett has, or it will have occasional quite dreadful client problems.
Jeremy Grantham
Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system and it is not functioning properly.
Jeremy Grantham
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.
Jeremy Grantham
There is no single theory that is used in economics that considers the finite nature of resources. It's shocking.
Jeremy Grantham
I find the parallels between how some investors refuse to recognise the trends and our reaction to some of our environmental challenges very powerful. There is an unwillingness to process unpleasant data.
Jeremy Grantham
Equities are boring bonds are disgusting.
Jeremy Grantham
The world is using up its natural resources at an alarming rate, and this has caused a permanent shift in their value. We all need to adjust our behavior to this new environment. It would help if we did it quickly.
Jeremy Grantham
We live on a finite planet. We have finite resources, and we're running out of good, arable land.
Jeremy Grantham
There is a lot of pain still to be had in the equity markets, particularly aimed at the risky end of the spectrum. We think the fair value on the market is about a third lower in the U.S. . .
Jeremy Grantham
I like to be right. I try not to miss the big ideas, forget the little ones, and try to get them right. End of job description.
Jeremy Grantham
Modern agriculture has been accurately described as a way of turning oil into food. As the price of oil continues to rise, so will the price of food.
Jeremy Grantham
Some societies are also more optimistic than others: the U.S. and Australia are my two picks Tell a European you think there’s a housing bubble and you’ll have a reasonable discussion. Tell an Australian and you’ll have World War III. Been there, done that!
Jeremy Grantham
