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.
Jeremy GranthamCapitalism believes that its remit is exclusively to make maximum short-term profits.
Jeremy GranthamRidiculous 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.'
Jeremy GranthamBy background I'm both a Quaker and a Yorkshireman, which I like to call double jeopardy.
Jeremy Grantham