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I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.

Jeremy Grantham

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Jeremy Grantham
Age: 86
Born: 1938
Born: October 6
Investor
Manager
Herts
Robert Jeremy Goltho Grantham
Dysfunctional
Markets
Extremes
Financial
Capable
Completely
Would
Inefficient

More quotes by Jeremy Grantham

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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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If stocks are attractive and you don't buy, you don't just look like an idiot, you are an idiot.
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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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Battering down solar cells on the roofs of Wal-Marts in California. I think that will be some of the highest-return investments that anyone ever makes.
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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.
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I think I'm right-brained, incapable of managing my way out of a brown paper bag.
Jeremy Grantham
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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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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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It is better to be lucky than good, but of course appropriate to aspire to both.
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.
Jeremy Grantham
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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
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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.
Jeremy Grantham
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Equities are boring bonds are disgusting.
Jeremy Grantham
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There is no single theory that is used in economics that considers the finite nature of resources. It's shocking.
Jeremy Grantham
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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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Capitalism believes that its remit is exclusively to make maximum short-term profits.
Jeremy Grantham
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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
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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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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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The stock market is overpriced. Everything is overpriced. Junk is king.
Jeremy Grantham