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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
Long
Americans
Quicker
Problems
Dice
Worst
Signals
Almost
Respond
Term
Dealing
Anyone
Roll
Problem
Market
Uzbekistan
Better
Bigger
Signal

More quotes by Jeremy Grantham

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I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.
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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.
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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.
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Equities are boring bonds are disgusting.
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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.
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At least us old men remember what a real bear market is like, and the young men haven't got a clue.
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Remember that history always repeats itself. Every great bubble in history has broken. There are no exceptions.
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We live on a finite planet. We have finite resources, and we're running out of good, arable land.
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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.
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I think I'm right-brained, incapable of managing my way out of a brown paper bag.
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It is better to be lucky than good, but of course appropriate to aspire to both.
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You can't run the economy on BMWs alone. If the average person is in a pickle, how do you have a healthy economy?
Jeremy Grantham
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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
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The individual is far better-positioned to wait patiently for the right pitch while paying no regard to what others are doing, which is almost impossible for professionals.
Jeremy Grantham
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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
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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
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Capitalism believes that its remit is exclusively to make maximum short-term profits.
Jeremy Grantham
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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.
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The stock market is overpriced. Everything is overpriced. Junk is king.
Jeremy Grantham
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If stocks are attractive and you don't buy, you don't just look like an idiot, you are an idiot.
Jeremy Grantham