How Grantham Nearly Lost It All, Became Value Investor
Jeremy Grantham, the co-founder and long-term investment strategist of Boston-based GMO, has a well-earned reputation as a savvy value investor. It wasn’t always thus. Fairly early in his lengthy investment career, in the mid-1960s, this thrifty son of Yorkshire, England, grew besotted with speculative small-cap stocks. Not surprisingly, his affections weren’t returned, but the humbling experience taught him several career-defining lessons. Grantham recounts them in The Making of a Permabear, written with Edward Chancellor and subtitled The Perils of Long-term Investing in a Short-Term World. The book will be published on Jan. 13 by Grove Press.
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