“Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system and it is not functioning properly.”
Quote by Jeremy Grantham
Author
Jeremy Grantham
Jeremy Grantham is a renowned investor and environmentalist. He founded Grantham Mayo Van Otterloo & Co. (GMO) in 1977, a global asset management firm. He is known for his advocacy of sustainable investing and profound insights into market trends. more