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?

Remember that history always repeats itself. Every great bubble in history has broken. There are no exceptions.

I believe the only things that really matter in investing are the bubbles and the busts

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.

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.

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

Volatility is a symptom that people have no idea of the underlying value.

By background I'm both a Quaker and a Yorkshireman, which I like to call double jeopardy.

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.

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.

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.

There is no single theory that is used in economics that considers the finite nature of resources. It's shocking.

I think I'm right-brained, incapable of managing my way out of a brown paper bag.

Capitalism believes that its remit is exclusively to make maximum short-term profits.

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.

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. . .

Equities are boring; bonds are disgusting.

The stock market is overpriced. Everything is overpriced. Junk is king.

We live on a finite planet. We have finite resources, and we're running out of good, arable land.

At least us old men remember what a real bear market is like, and the young men haven't got a clue.

It is better to be lucky than good, but of course appropriate to aspire to both.

I hate gold. It does not pay a dividend, it has no value, and you can't work out what it should or shouldn't be worth," he said. "It is the last refuge of the desperate.

If stocks are attractive and you don't buy, you don't just look like an idiot, you are an idiot.

The fall of moral civilization has always been brought about by those who were "just doing their jobs".