Volatility is a symptom that people have no idea of the underlying value-that they have stopped playing the asset game. They're not buying because it's a company with certain attributes. They're buying because the price is rising. People are playing games not related to any concept at all of what the long-term value of the enterprise is. And they know it.
There is no single theory that is used in economics that considers the finite nature of resources. It's shocking. - Jeremy Grantham
There is no single theory that is used in economics that considers the finite nature of resources. It's shocking.
- Jeremy Grantham
Remember that history always repeats itself. Every great bubble in history has broken. There are no exceptions. - Jeremy Grantham
Remember that history always repeats itself. Every great bubble in history has broken. There are no exceptions.
I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional. - Jeremy Grantham
I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.
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 … - Jeremy Grantham
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 …
Investment bubbles and high animal spirits do not materialize out of thin air. They need extremely favorable economic fundamentals together with free… - Jeremy Grantham
Investment bubbles and high animal spirits do not materialize out of thin air. They need extremely favorable economic fundamentals together with free…
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 imposs… - Jeremy Grantham
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 imposs…
Although value is a weak force in any single year, it becomes a monster over several years. Like gravity, it slowly wears down the opposition. - Jeremy Grantham
Although value is a weak force in any single year, it becomes a monster over several years. Like gravity, it slowly wears down the opposition.
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 wh… - Jeremy Grantham
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 wh…
I believe the only things that really matter in investing are the bubbles and the busts - Jeremy Grantham
I believe the only things that really matter in investing are the bubbles and the busts
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