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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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Jeremy Grantham
Age: 86
Born: 1938
Born: October 6
Investor
Manager
Herts
Robert Jeremy Goltho Grantham
Value
Lower
Values
Third
Pain
Thirds
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Ends
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Risky
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Particularly
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Think
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More quotes by Jeremy Grantham

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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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Capitalism believes that its remit is exclusively to make maximum short-term profits.
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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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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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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I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.
Jeremy Grantham
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We live on a finite planet. We have finite resources, and we're running out of good, arable land.
Jeremy Grantham
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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.
Jeremy Grantham
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The stock market is overpriced. Everything is overpriced. Junk is king.
Jeremy Grantham
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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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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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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 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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If stocks are attractive and you don't buy, you don't just look like an idiot, you are an idiot.
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
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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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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
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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 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