Jeremy Grantham recently sat down with Consuelo Mack's WealthTrack program for his first ever television interview.
The famed investor and GMO money manager is renowned for his insights, his investing track record, and his steely resolve. During the dot.com boom, Grantham refused to invest in the high-flying internet and tech sectors, a move that led many clients to leave his firm.
Grantham was vindicated when the Nasdaq and tech bubble burst in 2000. His emphasis on buying investment quality and value seems to have served his clients well.
Now, in the aftermath of the 2003-2007 bull market in shares (a move Grantham once referred to as the "biggest sucker rally in history"), he is once again focusing on areas of value in the stock market. Grantham says there are opportunities in stocks for those who are willing to search for value and take a long-term view of their holdings.
In listening to this interview, I found it refreshing to hear an investment manager make the case for stocks, while at the same time acknowledging the risk in purchasing shares at a time when the economy and corporate profits could easily continue to go down further. I think this makes him a realist, and yet, one who is not afraid to enter the fray and seek out value for his investing clients.
On to the interview. I came across this item while reading the recent linkfest at the Kirk Report yesterday, and it seems many of my favorite investing bloggers have already featured this clip on their sites.
So for those, like myself, who haven't seen this clip until now, enjoy!
Related articles and posts:
1. "Still holding back: interview with Jeremy Grantham" - Barron's.
2. "Seasoned investors search for values" - Finance Trends.