“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.'” SaidRealitySeemsMightIntelligentPatientRidiculousAgentsInvestorsClientsIrrationalOne LoveMartiansVolatilityKeynes Author:Jeremy Grantham
“The investment business has taught me – increasingly as the years have passed – that people, especially investors (and, I believe, Americans), prefer good news and wishful thinking to bad news; and that there are always vested interests to offer facile, optimistic alternatives to the bad news.” PeopleThinkingYearsBelieveI BelieveInterestTaughtOffersNewsInvestmentOptimisticAlternativesInvestorsGood NewsBad NewsWishful ThinkingVested Interests Author:Jeremy Grantham
“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.” ProcessChallengesPowerfulEnvironmentalRefuseReactionsDataTrendsInvestorsParallelsOur EnvironmentVery PowerfulRecogniseEnvironmental Challenges Author: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 who like to watch the locomotive coming and get run down in the name of discipline.” PeopleWayUseRunningNamesBrainWatchesDisciplineInvestorsTimingTagLocomotivesMarket TimingUsing Your Brain Author:Jeremy Grantham
