“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.” NeedsLongProblemTermPureAdministrationLong TermClientsLocksOccasionalBuffettWarren BuffetLock Up Author:Jeremy Grantham
“The world is using up its natural resources at an alarming rate, and this has caused a permanent shift in their value. We all need to adjust our behavior to this new environment. It would help if we did it quickly.” IfsWorldNeedsHelpingValuesNaturalEnvironmentBehaviorResourcesRatePermanentNatural ResourcesNew Environment Author:Jeremy Grantham
“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.” NeedsYearsTwoTogetherSpiritThreeEasyGrowthAnimalAirEconomicFundamentalsSurpriseInvestmentCreditCriticalPleasantThree YearsBubblesVariablesSerialsThin AirPleasant SurprisesAnimal Spirits Author:Jeremy Grantham
