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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.

Jeremy Grantham

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Jeremy Grantham
Age: 86
Born: 1938
Born: October 6
Investor
Manager
Herts
Robert Jeremy Goltho Grantham
Names
Market
Use
Discipline
Locomotive
Running
Watches
Locomotives
Anything
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Way
Hold
Timing
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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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We live on a finite planet. We have finite resources, and we're running out of good, arable land.
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Capitalism believes that its remit is exclusively to make maximum short-term profits.
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It is better to be lucky than good, but of course appropriate to aspire to both.
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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.
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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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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. . .
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Remember that history always repeats itself. Every great bubble in history has broken. There are no exceptions.
Jeremy Grantham
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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.
Jeremy Grantham
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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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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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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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The stock market is overpriced. Everything is overpriced. Junk is king.
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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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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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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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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Equities are boring bonds are disgusting.
Jeremy Grantham
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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.
Jeremy Grantham
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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