72 Quotes by Jeremy Grantham

When it comes to portfolios, my personal advice is for anyone who can, put money into forestry or farmland. Long term, you would probably never come near their returns in the stock market. In the world that I see, land is golden.

We could solve all our problems if only we were the efficient, rational human beings of standard economic theory and had politicians willing to think in the long-term interest of their people rather than their own.

One day we will have more inflation, and our bonds will bleed like a pig. The only reason for buying long bonds is short-term or as a desperate haven for terrorized investors. But the potential to make longer-term real money is naught.

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.

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.

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.

If you're saying something that people don't want to hear or accept, a significant proportion of them will reply with hostility. Not because they know the facts, or because they have researched it themselves, but because they're so psychologically involved in believing good news that they will oppose it with a reflex.

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.

The potential for alternative energy sources, mainly solar and wind power, to completely replace coal and gas for utility generation globally is, I think, certain. The question is only whether it takes 30 years or 70 years.