Jeremy Grantham Quotes & Sayings (Page 3)

“You can't run the economy on BMWs alone. If the average person is in a pickle, how do you have a healthy economy?”

“If you're afraid of inflation, I think - and if you can bring yourself to have a long horizon - and when I say long, I mean ten to 20 years, not the usual ten to 20 weeks - that locking up resources in the ground is a terrific idea.”

“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.”

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

“History speaks pretty clearly that the markets do better with Democrats. Republicans' ideas of what constitutes fiscal responsibility simply are not good for the stock market. Democrats have many tendencies, but one of them is to look after the workers, and actually that tends to be good for demand and good for markets.”

“You don't get rewarded for taking risk; you get rewarded for buying cheap assets. And if the assets you bought got pushed up in price simply because they were risky, then you are not going to be rewarded for taking a risk; you are going to be punished for it.”

“Americans are just about the worst at dealing with long-term problems, down there with Uzbekistan, but they respond to a market signal better than almost anyone. They roll the dice bigger and quicker than most.”

“As a professional, you can afford to pick some stocks and be wrong about a few of them. To keep your job, you cannot take the risk of being seen to be wrong about the 'big picture' for very long.”

“Capitalism does millions of things better than the alternatives. It balances supply and demand in an elegant way that central planning has never come close to.”

“If there's unemployment, having the government help reduce that unemployment, increase employment directly is a pretty good idea. It's not driving out competition; it's not crowding out.”