Jeremy Grantham – An Uncertain Crisis - [Invest Like the Best, EP.177]

Invest Like the Best with Patrick O'Shaughnessy

Colossus

Business, Investing, Technology

4.7 • 2.5K Ratings

🗓️ 9 June 2020

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

My guest today is Jeremy Grantham. Jeremy is the co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (aka GMO). GMO, which manages more than $60B for clients, was a firm that helped educate me early in my investing career. They’ve long published thought-provoking research, most of which came from Grantham himself. He is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets, but is particularly noted for his prediction of various bubbles. In this conversation we discuss the current crisis, which he calls the fourth major event of his long and storied career as an investor. As he says, this one is the most uncertain. We also discuss unique topics like commodity-based companies, and how opportunity often lies between fields of expertise. Please enjoy our conversation. For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub. Follow Patrick on Twitter at @patrick_oshag Show Notes (1:37) – (First question) – What keeps him going in investing (2:54) – Changing approaches to managing money over the decades (7:27) – Their investment forecast for major allocations and how that has evolved (10:06) – How to markets compete with FAANG stocks (16:06) – More opportunity for active investors and where (30:55) – How he talks to clients about major stock market events (34:09) – His interest in natural resources/commodities (47:07) – Long term argument for the three natural resources: oil, metals, and food (47:10) – An Investment Only A Mother Could Love: The Tactical Case (52:01) – Specific case for particular metals (56:46) – Areas in the future that excite him or that he wants to learn more about (1:03:42) – Advice for people interested in investing (1:05:15) – Kindest thing anyone has done for Jeremy Learn More For more episodes go to InvestorFieldGuide.com/podcast. Sign up for the book club, where you’ll get a full investor curriculum and then 3-4 suggestions every month at InvestorFieldGuide.com/bookclub Follow Patrick on Twitter at @patrick_oshag

Transcript

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0:00.0	Hello and welcome everyone.
0:05.4	I'm Patrick O'Shaunasey and this is Invest Like The Best.
0:08.6	This show is an open-ended exploration of markets, ideas, methods, stories, and of strategies
0:13.9	that will help you better invest both your time and your money.
0:17.2	You can learn more and stay up to date at investorfieldguide.com.
0:24.5	Patrick O'Shaunasey is the CEO of O'Shaunasey Asset Management.
0:28.5	All opinions expressed by Patrick and podcast guests are solely their own opinions and do
0:32.9	not reflect the opinion of O'Shaunasey Asset Management.
0:36.3	This podcast is for informational purposes only and should not be relied upon as a basis
0:40.6	for investment decisions.
0:42.4	Clients of O'Shaunasey Asset Management may maintain positions and the securities discussed
0:46.2	in this podcast.
0:49.6	My guest today is Jeremy Grantham.
0:51.5	Jeremy is the co-founder and chief investment strategist of Grantham, Mayo, and Van Otterwood,
0:55.9	aka GMO.
0:57.8	GMO, which manages more than $60 billion for clients, was a firm that helped educate
1:02.4	me early in my investment career.
1:04.4	They've long published thought-provoking research, most of which came from Grantham himself.
1:08.8	He's regarded as a highly knowledgeable investor in various stock bond and commodity markets,
1:13.1	but is particularly noted for his prediction of various bubbles.
1:16.7	In this conversation, we discuss the current crisis, which he calls the fourth major event
1:20.9	of his long and storied career as an investor.
	...

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