Jeremy Grantham Nails the Zeitgeist, or “The New Abnormal” The economic environment seems to be stuck in a rather unpleasant perpetual loop. Greece is always about to default; the latest bailout is always about to save the day and yet never seems to; China is always about to collapse but instead teases us by inching...Read More
Wanna Bet I’m Not the Only One? The number of people whose thoughts about the business and investing world I consistently and truly enjoy makes up a very short list; it includes Michael Lewis, Warren Buffett, Thomas Wolfe (when he writes about the subject), Matt Taibbi (ditto), Barry Ritholtz (when he’s not in rant mode and bothers to spellcheck), and...Read More
According to legendary investor Jeremy Grantham, how much gold should you own? At least for his own account, “just enough to mute the irritation of watching gold [prices] rise.” Not very scientific — but neither is investing in gold. And oddly, that formulation sounds just about right . . .Read More
Malthus Returns — With a Vengeance Jeremy Grantham’s latest quarterly newsletter is devoted to looming resource scarcity — and its consequences. As Grantham himself allows, it’s not a cheery subject; it’s not for nothing that economics is known as the “dismal science.” But if you respect Grantham (and I do), it’s worth a read.Read More
Grantham: ‘Almost Criminally Inept Fed’ The Federal Reserve’s asymmetric policy of stimulating stock moves by setting artificially low rates and then leaving the bull markets, when overstimulated, to bubble over, is dangerous. It is probably the most dangerous thing to inflict on a peace time economy with two possible exceptions — runaway inflation and a...Read More
As Flummoxed as Everyone Else What we are seeing now is a tussle between the 50% sustained speculation branch and the branch where two or three things go wrong and crack confidence. This struggle is an unusual one, and has created market effects I have never seen before, and you have not either. –Jeremy Grantham,...Read More
