StarZero All shows Try the podcast clipper →

Jeremy Grantham

24 statements across 4 episodes · 4 bullish · 15 bearish · 3 people on the record · first statement Mar 30, 2020 by Ben Inker · said 58 times in 13 episodes since 2017 · across every show →

On the record as a speaker too: Jeremy Grantham's record, appearances and statements → this page counts the times other people say the name.

Mentions by year

brought up most by David Salem (19), Ted Seides (12), Ben Inker (11), Richard Lawrence (10), Tom Bushey (1), Reuben Munger (1), Michael Cembalest (1), Chris Douvos (1)

tap a year for its mentions
00152303201720182019202020212022202320242025episodesmentions
023201720182019202020212022202320242025episodes it came up in
00101.5203201720182019202020212022202320242025episodesmentions per episode
2025 2 mentions in 2 episodes 1 per episode
2024 20 mentions in 1 episode
2023 2 mentions in 1 episode
2022 3 mentions in 2 episodes 2 per episode
2021 2 mentions in 1 episode
2020 26 mentions in 3 episodes 9 per episode
2018 2 mentions in 2 episodes 1 per episode
2017 1 mention in 1 episode

every mention, scene by scene, with the transcript →

Everything said about Jeremy Grantham, oldest first

Mar 30, 2020 neutral
Assertion Not checkable as stated
Inker: Client banned GMO in 1999 for Grantham's 'persuasive' views
“In 1999, we were disinvited from speaking to their investment committee on the grounds that their committee chairman said that Jeremy Grantham was both dangerously persuasive and totally wrong.”
Ben Inker Mar 30, 2020 ▶ 27:44 Ben Inker – Value Investing at GMO (First Meeting, EP.17)
Mar 30, 2020
Insight
Inker: Bear markets progress across three distinct phases of quality and valuation
“In the first stage of bear markets, everything tends to go down the same, and if anything helps, it's quality. In the second phase, valuation tends to matter. That doesn't mean value stocks always outperform in the second phase. It is the stuff that has gotten…”
Ben Inker Mar 30, 2020 ▶ 1:14:16 Ben Inker – Value Investing at GMO (First Meeting, EP.17)
Jun 25, 2020 neutral
Assertion Supported
Grantham study: Fossil fuel divestment cost less than 0.5% in performance
“Jeremy Grantham put out a document three or four years ago that said there was almost no cost to that exclusion. Okay, and this was when the divestment move really happened. People were extremely concerned about just the divestment point of view. So he went fr…”
Richard Lawrence Jun 25, 2020 ▶ 22:56 Sustainable Investing 6: Richard Lawrence - ESG Integration at Overlook (Capital Allocators, EP.144)
Jul 8, 2021 bullish
Prediction Not checkable as stated
Grantham: Society will achieve an enormous green transition within 15 years
“You will come back in 10 or 15 years, and you will see that we have made an enormous transition to a green economy. We will win technologically.”
Jeremy Grantham Jul 8, 2021 ▶ 31:48 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Jul 8, 2021 bearish
Assertion Supported
Grantham: U.S. debt multiplied since Greenspan while economic growth slowed
“We entered an era with Greenspan of a fairly decent kink in the cumulative debt curve. It had been drifting up very slowly, and then it started to rise very rapidly since his era. What you notice is that despite the fact that the debt ratio Per unit of GDP has…”
Jeremy Grantham Jul 8, 2021 ▶ 17:57 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Jul 8, 2021
Insight
Grantham: Long-term investors must be prepared to fight the Fed
“Don't fight the Fed if you're a short-term player, but if you're a long-term player, you have to be prepared to fight the Fed on occasions.”
Jeremy Grantham Jul 8, 2021 ▶ 30:00 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Jul 8, 2021 bearish
Insight
Grantham: High-PE markets face substantial declines once confidence breaks
“High PEs are an intrinsically nervous and risky situation where everything is confidence. If you break confidence for any reason, it could be uniquely different this time, It has been quite different in each of the bubbles, but if you break confidence and you'…”
Jeremy Grantham Jul 8, 2021 ▶ 19:27 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Jul 8, 2021 bearish
Assertion Not checkable as stated
Grantham: PEs are in the top 5% while economy is bottom 5%
“We're in the highest five percent of PEs. And we're in the lowest five percent of economic conditions today. So there's never been anything like that in history.”
Jeremy Grantham Jul 8, 2021 ▶ 14:45 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Jul 8, 2021 bearish
Insight
Grantham: Timing bubble peaks requires tracking speculative behavior, not valuation
“If you're trying to time the breaking of a bubble, the value is not that important. All of them are overpriced, and whether they're overpriced at 25 times earnings or 35 times earnings or in Japan at 65 times earnings, it's very difficult to work out in any so…”
Jeremy Grantham Jul 8, 2021 ▶ 22:03 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Jul 8, 2021 bearish
Disclosure
Grantham: Tesla is not worth four times its pre-COVID value
“I own a Tesla. It's a wonderful car. I think they're a spectacularly interesting company, but are they four times the company they were before COVID? I don't think so.”
Jeremy Grantham Jul 8, 2021 ▶ 23:52 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Jul 8, 2021 bearish
Prediction Not checkable as stated
Grantham: The market bubble will likely break in weeks or months
“So I think this is an indicator, not a certainty, but a strong possibility that we are quite close to the bubble breaking in terms of psychology. Perhaps a matter of weeks or months, not years.”
Jeremy Grantham Jul 8, 2021 ▶ 24:18 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Jul 8, 2021 neutral
Assertion Supported
Grantham: GMO never featured inflation as a major risk in 20 years
“So I am actually very proud to say that I wrote quarterly letters for 20 years, and I never featured inflation as a major risk.”
Jeremy Grantham Jul 8, 2021 ▶ 55:13 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Jul 8, 2021 bearish
Opinion
Grantham: Financial markets are in a unique bubble unlike any other
“I do think we're in a bubble, but I also think it's unlike any other bubble.”
Jeremy Grantham Jul 8, 2021 ▶ 14:00 Jeremy Grantham – GMO (Manager Meetings, EP.01)
Mar 23, 2026 positive
Assertion Not publicly verifiable
Grantham: Batterymarch beat the market by six points annually over eight years
“Of the eight years of battery march, we drew one and won six and lost one, but we won by an average of six points a year over the eight years.”
Jeremy Grantham Mar 23, 2026 ▶ 19:41 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 bearish
Insight
Grantham: Super-Bubbles End When Speculative Market Leaders Dramatically Underperform
“I developed a singular rule that only has occurred four times in U.S. History. The stocks that have been leading the charge up 70% in 1928, the meme stocks in twenty-twenty, up huge amounts. When they start to underperform dramatically, the market, as the bull…”
Jeremy Grantham Mar 23, 2026 ▶ 39:22 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 negative
Insight
Grantham: Asset managers get fired in bull markets, not bear markets
“People think you get fired for underperforming in bear markets, which is nonsense. In a serious bear market, the client becomes catatonic.”
Jeremy Grantham Mar 23, 2026 ▶ 24:58 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 bearish
What-if
Grantham: AI rally aborted the full crushing of the 2022 super-bubble
“The invasion of chat and AI ruined my perfectly good bear market. I still got a bear market. It was way over 20% decline, but it wasn't the crushing of a super bubble that would have happened. Without the great investment associated, the capex associated with …”
Jeremy Grantham Mar 23, 2026 ▶ 45:32 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 negative
Opinion
Grantham: Alan Greenspan and Larry Summers Are Unaccountable 'Teflon Men'
“My biggest investment peeve is that the Greenspans and the Larry Summers, they get away with murder. I call them the Teflon men. I was heartbroken when they kept getting reappointed by new presidents that I had higher hopes for, even as they had just presided …”
Jeremy Grantham Mar 23, 2026 ▶ 1:18:12 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 negative
Opinion
Grantham: Climate Denial Is Predominantly an American Phenomenon
“You don't find climate deniers around the world. You find a few in England, all extreme right-wing libertarians, and you find a small army in the US, but that's it. This is an American thing, climate denial.”
Jeremy Grantham Mar 23, 2026 ▶ 1:17:51 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 negative
Opinion
Grantham: The real market pain was 1938, not 1929
“The real pain wasn't 1929, it was really 1938.”
Jeremy Grantham Mar 23, 2026 ▶ 1:02:37 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 negative
Insight
Grantham: Complex organizations almost always miss major turning points
“Complex organizations always get it wrong at major turning points, or almost always.”
Jeremy Grantham Mar 23, 2026 ▶ 52:36 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 positive
Disclosure
Grantham Held a Five Percent Personal Equity Stake in QuantumScape in 2020
“That was by far the biggest investment I had ever made. It's the only one I owned myself, because our opportunity to invest in it was only if we bought a whole lot. It was unsuitably large holding. I had five percent of QuantumScape, I think, in 2020.”
Jeremy Grantham Mar 23, 2026 ▶ 42:51 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 positive
Assertion Not checkable as stated
Grantham: GMO's Early Quant Model Matched Discretionary Picks and Performed Equally Well
“So we redefined the formula until slowly but surely over a few months, we got it to kick out a portfolio, which was 90% the same as ours. Interestingly, the 10% that was different did just as well as our 10%.”
Jeremy Grantham Mar 23, 2026 ▶ 22:08 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Mar 23, 2026 negative
Opinion
Grantham: Management consulting work is typically very superficial
“The difference between what we thought we knew, which were many layers of the business, and what they knew, which was, to us, extremely superficial, let me know by the first week that consulting was like that, that it was a quick once-over, and typically very …”
Jeremy Grantham Mar 23, 2026 ▶ 14:54 Jeremy Grantham – Bubbles, Value Investing, and the Long Game at GMO (EP.493)
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 700 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.

Try the podcast clipper Learn more