Jeremy Grantham
By Barry Ritholtz - November 25th, 2008, 6:30PM
On this week’s Consuelo Mack WealthTrack, a television exclusive with one of the most successful investors in modern times. For years, legendary value investor Jeremy Grantham has been the Cassandra of the investment community with warnings of financial and market disaster. Grantham still sees danger in the global economy, but he has turned bullish on the U.S. stock market. In this, his first television interview, Grantham tells Consuelo Mack why he is now positive on stocks and what he sees ahead for the global financial system.
click for video:
Source: Consuelo Mack WealthTracker
Hat tip: Paul Kedrosky
November 25th, 2008 at 8:07 pm
JG suggests market is likely going to around 600 on the S&P 500 in 2009, but always the possibility it could overshoot on the downside. Says many unintended consequences abound. But he recommends to slowly wade in at current levels. He cites how he recommended to his sister, to be 20% in equities. Interestingly, that is down from 30% a few weeks ago, so it seems he has gotten a bit more bearish as of late.
November 25th, 2008 at 10:07 pm
In his recent newsletter, which I have linked to here at BP many times, he cited a range of 740 to 585 as a low range. Granted, that’s quite a range, but to hear him point to the low side is chilling. In general, I like the gray haired guys that don’t talk to the media much and actually base their opinions on a minimum of 10 years of research and up to 200 years.
November 26th, 2008 at 8:31 am
Oh dear lord… I hereby profess my love — LOVE — for Jeremy Grantham.
Previously, I read an occasional excerpt from his writing. But, never read/heard a chunk like this. Thanks, BR. Great stuff.
November 26th, 2008 at 1:07 pm
Thank you for the post.
The voice of true wisdom.
Great interview; CNBC was shortsighted in dumping Consuelo Mack.