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Jeremy Grantham Quotes

I consider most of the talent in the financial world to be suboptimal. It could be better placed earning its living in the real world Picture Quote #1

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 Picture Quote #1

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 Picture Quote #1

Ridiculous as our market volatility might seem to an intelligent Martian, it is our reality and everyone loves to trot out the ‘quote’ attributed to Keynes (but never documented): ‘The market can stay irrational longer than the investor can stay solvent.’ For us agents, he might better have said ‘The market can stay irrational longer than the client can stay patient.’ Picture Quote #1

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 Picture Quote #1

Libertarians believe that any government interference is bad. Anyone with a brain knows that climate change needs governmental leadership, and they can smell this is bad news for their philosophy. Their ideology is so strongly held that, remarkably, it’s overcoming the facts Picture Quote #1

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We could solve all our problems if only we were the efficient, rational human beings of standard economic theory and had politicians willing to think in the long-term interest of their people rather than their own Picture Quote #1

The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain around that fact. They want to believe that it’s approximately efficient almost all the time, and it simply isn’t true Picture Quote #1

As a professional, you can afford to pick some stocks and be wrong about a few of them. To keep your job, you cannot take the risk of being seen to be wrong about the ‘big picture’ for very long Picture Quote #1

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 Picture Quote #1

Capitalism does millions of things better than the alternatives. It balances supply and demand in an elegant way that central planning has never come close to Picture Quote #1

Low-cost, high-grade coal, oil and natural gas - the backbone of the Industrial Revolution - will be a distant memory by 2050. Much higher-cost remnants will still be available, but they will not be able to drive our growth, our population and, most critically, our food supply as before Picture Quote #1

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I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation Picture Quote #1

We used to live in a world where the price of resources came down steadily, and now the world has changed. You have a great mismatch between finite resources and exponential population growth Picture Quote #1

History speaks pretty clearly that the markets do better with Democrats. Republicans’ ideas of what constitutes fiscal responsibility simply are not good for the stock market. Democrats have many tendencies, but one of them is to look after the workers, and actually that tends to be good for demand and good for markets Picture Quote #1

I don’t mind the government accruing debts as long as every dollar is spent effectively with a high return. That works out fine. If you accumulate debts and waste your money, that’s, of course, a disaster Picture Quote #1

If you’re afraid of inflation, I think - and if you can bring yourself to have a long horizon - and when I say long, I mean ten to 20 years, not the usual ten to 20 weeks - that locking up resources in the ground is a terrific idea Picture Quote #1

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 Picture Quote #1

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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? Picture Quote #1

Think how weird profit margins are: We’ve got high unemployment and financial crises - and world record profit margins. People think the American market is very cheap. We don’t. The market quite incorrectly gives full credit to today’s earnings Picture Quote #1

There is no single theory that is used in economics that considers the finite nature of resources. Its shocking Picture Quote #1

I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional Picture Quote #1

Equities are boring; bonds are disgusting Picture Quote #1

The stock market is overpriced. Everything is overpriced. Junk is king Picture Quote #1

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Volatility is a symptom that people have no idea of the underlying value Picture Quote #1

If stocks are attractive and you don’t buy, you don’t just look like an idiot, you are an idiot Picture Quote #1

The potential for alternative energy sources, mainly solar and wind power, to completely replace coal and gas for utility generation globally is, I think, certain. The question is only whether it takes 30 years or 70 years Picture Quote #1

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 Picture Quote #1

We live on a finite planet. We have finite resources, and we’re running out of good, arable land Picture Quote #1

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 Picture Quote #1

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Friendship Quotes

Motivational Quotes

Inspirational Quotes

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Text Quotes

I consider most of the talent in the financial world to be suboptimal. It could be better placed earning its living in the real world. (Jeremy Grantham Quotes) 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 Quotes) 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 Quotes) Ridiculous as our market volatility might seem to an intelligent Martian, it is our reality and everyone loves to trot out the ‘quote’ attributed to Keynes (but never documented): ‘The market can stay irrational longer than the investor can stay solvent.’ For us agents, he might better have said ‘The market can stay irrational longer than the client can stay patient.’ (Jeremy Grantham Quotes) 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 Quotes) Libertarians believe that any government interference is bad. Anyone with a brain knows that climate change needs governmental leadership, and they can smell this is bad news for their philosophy. Their ideology is so strongly held that, remarkably, it’s overcoming the facts. (Jeremy Grantham Quotes) We could solve all our problems if only we were the efficient, rational human beings of standard economic theory and had politicians willing to think in the long-term interest of their people rather than their own. (Jeremy Grantham Quotes) The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain around that fact. They want to believe that it’s approximately efficient almost all the time, and it simply isn’t true. (Jeremy Grantham Quotes) As a professional, you can afford to pick some stocks and be wrong about a few of them. To keep your job, you cannot take the risk of being seen to be wrong about the ‘big picture’ for very long. (Jeremy Grantham Quotes) 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 Quotes) Capitalism does millions of things better than the alternatives. It balances supply and demand in an elegant way that central planning has never come close to. (Jeremy Grantham Quotes) Low-cost, high-grade coal, oil and natural gas - the backbone of the Industrial Revolution - will be a distant memory by 2050. Much higher-cost remnants will still be available, but they will not be able to drive our growth, our population and, most critically, our food supply as before. (Jeremy Grantham Quotes) I think the Fed is not designed to have effective tools to deal with the economy. It should settle for just controlling the money supply. And - if it insists, it can worry about inflation. (Jeremy Grantham Quotes) We used to live in a world where the price of resources came down steadily, and now the world has changed. You have a great mismatch between finite resources and exponential population growth. (Jeremy Grantham Quotes) History speaks pretty clearly that the markets do better with Democrats. Republicans’ ideas of what constitutes fiscal responsibility simply are not good for the stock market. Democrats have many tendencies, but one of them is to look after the workers, and actually that tends to be good for demand and good for markets. (Jeremy Grantham Quotes) I don’t mind the government accruing debts as long as every dollar is spent effectively with a high return. That works out fine. If you accumulate debts and waste your money, that’s, of course, a disaster. (Jeremy Grantham Quotes) If you’re afraid of inflation, I think - and if you can bring yourself to have a long horizon - and when I say long, I mean ten to 20 years, not the usual ten to 20 weeks - that locking up resources in the ground is a terrific idea. (Jeremy Grantham Quotes) 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 Quotes) 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 Quotes) Think how weird profit margins are: We’ve got high unemployment and financial crises - and world record profit margins. People think the American market is very cheap. We don’t. The market quite incorrectly gives full credit to today’s earnings (Jeremy Grantham Quotes) There is no single theory that is used in economics that considers the finite nature of resources. Its shocking (Jeremy Grantham Quotes) I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional (Jeremy Grantham Quotes) Equities are boring; bonds are disgusting (Jeremy Grantham Quotes) The stock market is overpriced. Everything is overpriced. Junk is king (Jeremy Grantham Quotes) Volatility is a symptom that people have no idea of the underlying value (Jeremy Grantham Quotes) If stocks are attractive and you don’t buy, you don’t just look like an idiot, you are an idiot (Jeremy Grantham Quotes) The potential for alternative energy sources, mainly solar and wind power, to completely replace coal and gas for utility generation globally is, I think, certain. The question is only whether it takes 30 years or 70 years (Jeremy Grantham Quotes) 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 Quotes) We live on a finite planet. We have finite resources, and we’re running out of good, arable land (Jeremy Grantham Quotes) 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 Quotes)

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