Jeremy Grantham, GMO - What Day Is The Highest Level Of Optimism? It’s The Day The Market Hits The Peak | #286

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 8 February 2021

⏱️ 81 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode 286, we welcome our guest, Jeremy Grantham, co-founder and Chief Investment Strategist of GMO. In today’s episode, Jeremy begins by talking about the current market, which he believes will be recorded as one of the great bubbles of financial history. He puts this bubble into historical perspective by comparing it to the Japanese, technology and housing bubbles. Then he addresses the commonly cited argument that low interest rates justify high stock valuations. Next, Jeremy explains why he is so bullish on venture capital and has allocated almost 60% of his foundation to the asset class, making it, as he says, one of the most aggressive portfolios in the philanthropic world. As we wind down, Jeremy explains why he is so passionate about addressing climate change through his foundation, and why China is ahead of the U.S. to address the issue. Please enjoy this episode with GMO’s Jeremy Grantham. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mepp Faber Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:18.8	Matt Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.3	Did it industry regulations, he will not discuss any of Cambry's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of
0:31.2	Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:35.6	Hey friends, extra special episode for you today. No intro really needed. Our guest is the co-founder of
0:45.2	GMO. In today's episode, our guest begins by talking about the current market, which he believes
0:50.2	will be recorded as one of the great bubbles of financial history.
0:54.6	He puts his bubble into historical perspective by comparing it to the Japanese bubble and
0:58.6	then the US technology and housing bubbles.
1:01.3	He then addresses the commonly cited argument that low interest
1:03.7	rates justify high stock valuations. Next we touch on why he's so bullish on venture capital
1:08.4	and has allocated most of his foundation to the asset class making it as, as he says, one of the most aggressive
1:14.2	portfolios in the philanthropic space. As we wind down, our guest explains why he's so
1:19.0	passionate about addressing climate change through his foundation and why China is ahead of the US and the race to address the issue.
1:25.0	This episode is brought to you by TAN East. Long time listeners know I've invested in
1:30.8	private markets quite a bit myself but with access to these markets broadening,
1:34.7	it can be hard to know where to find vetted high quality offerings. That's where Ten East comes in.
	...

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