Jeremy Grantham

speaker

906 appearances 3 recordings 2 series first heard Jun 2026 last heard 30 Jul

Jeremy Grantham’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 2.

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It is not good business for them to do that, and they will not ever say it to you.

So from 1929 onwards, the Goldman Sachs of the world have never said to you, get out of the market.

It's overpriced.

Never.

So they went through the crash of 29.

They went through the crash of the nifty 50 and 72, the crash of 2000 in the tech bubble.

They never, ever say it because it's bad business.

If you fight a bubble, you lose a lot of business.

And because the uncertainty of the timing is so great, the client's patience is

is shorter than the uncertainty of the market.

So sooner or later, you will be advising people to be careful.

The market will keep going and going and going like it did in Japan.

If you'll allow me to tell a story on this very topic.

In the 98, 99, the tech bubble, so-called, the run-up to the top, I got into a lot of debates with the bulls.

I would say it's horribly overpriced.

Bull is someone who is extremely optimistic about the stock market.

And a bear is someone who is pessimistic or careful about the market.

There were 1,200 people in the audience, and it was the annual bash of the Society of Analysts.

And I asked before my turn at the debate, please put your hands up if you consider yourself a full-time stock market expert.

400 hands went up.

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