Jeremy Grantham

Jeremy Grantham

Last Update: 11-14-2017

Number of Stocks: 558
Number of New Stocks: 100

Total Value: $17,105 Mil
Q/Q Turnover: 12%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Jeremy Grantham' s Profile & Performance

Profile

Jeremy Grantham is the Chairman of the Board of Grantham Mayo Van Otterloo, a Boston based asset management firm. He is regarded as a highly knowledgeable investor in various stock, bond, and commodity markets. Grantham started one of the world's first index funds in the early 1970s. As of early 2009, GMO reported on its web site that it managed more than US $85 billion.

Grantham, Mayo, Van Otterloo & Co. LLC
40 ROWES WHARF
BOSTON MA 02110
617-330-7500

Web Page:http://www.gmo.com

Investing Philosophy

Grantham has built much of his investing reputation over his long career by correctly identifying speculative market "bubbles" as they were happening and steering clients' assets clear of impending crashes. Grantham avoided investing in Japanese equities and real estate in the late eighties, as well as technology stocks during the internet bubble in the late nineties.

Most recently, Grantham began warning about the overvaluation of equity and credit markets in 2006, well before the start of the present crisis.

Total Holding History

Performance of GMO US Intrin.Val. III (GMVUX)

YearReturn (%)S&P500 (%)Excess Gain (%)
201214.416-1.6
201110.382.118.3
201011.5915.06-3.5
3-Year Cumulative40.9 (12.1%/year)36.3 (10.9%/year)4.6 (1.2%/year)
200920.526.46-6.0
2008-33.8-373.2
5-Year Cumulative12.4 (2.4%/year)8.6 (1.7%/year)3.8 (0.7%/year)
2007-3.875.49-9.4
200613.515.79-2.3
20055.984.911.1
200412.7610.881.9
200329.6828.681.0
10-Year Cumulative90.1 (6.6%/year)98.5 (7.1%/year)-8.4 (-0.5%/year)
2002-15.75-22.16.4
20013.31-11.8915.2
200010.67-9.119.8
0000.0

Top Ranked Articles

Revisiting Buffett’s 1999 Warning: Interest Rates, Orgies and Value Even Buffett makes mistakes occasionally
We thought it would be helpful to review Warren Buffett (Trades, Portfolio)’s argument in 1999 (1), the last time there were very high expectations attached to technology stocks and the overall level of common stock prices. We will reference Buffett’s quotes by the year he said them. The sections labeled 2017 offer our current observations on the markets and thoughts from respected experts. Read more...
The Future of Value Investing As value investing heads into its 2nd century, is it as relevant today as in Ben Graham's time?
Where Oil Prices Are Headed See different things that could ignite a tradable trend in oil in the near future
Oil has been in my “too hard” bucket the last six months. I couldn’t identify any catalyst that could drive it out of its trading range. I mostly expected it to chop around which has turned out to be the case. Read more...
Bubbles, Busts and a Mean Reversion Strategy Jeremy Grantham finds value by waiting for asset classes and individual securities to diverge away from the mean
Jeremy Grantham Trims Consumer Defensive and Technology Empire Guru reduces 4 positions
Jeremy Grantham (Trades, Portfolio), chairman of Grantham, Mayo, Van Otterloo & Co., is regarded as a knowledgeable investor in various stock, bond and commodity markets. During fourth-quarter 2016, Grantham trimmed positions in Proctor & Gamble Co. (NYSE:PG), Cisco Systems Inc. (NASDAQ:CSCO), Microsoft Corp. (NASDAQ:MSFT) and Qualcomm Inc. (NASDAQ:QCOM). Read more...
» More Jeremy Grantham Articles

Commentaries and Stories

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Six Stocks That Are Beating the Market Ametek, American Tower among companies that have beated the S&P 500 over the past year Chuck Akre,Jeremy Grantham - Six Stocks That Are Beating The Market
According to GuruFocus' All-in-One Guru Screener, the following are some of the stocks that have outperformed the Standard & Poor's 500 Index over the last 12 months and were bought by gurus during the last quarter. More...

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Five Cheap Stocks With Growing Book Value Undervalued Stocks boosting their BV/S Columbia Wanger,Jeremy Grantham - Five Cheap Stocks With Growing Book Value
According to the GuruFocus All-In-One Screener, the following companies have grown their book value per share (BV/S) over the past decade. More...

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6 Companies Growing Revenue and Earnings Lincoln National tops the list Caxton Associates,Jeremy Grantham - 6 Companies Growing Revenue And Earnings
According to the GuruFocus All-In-One Screener, the following companies have grown their revenues and earnings over the past several years. More...

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GMO's Jeremy Grantham: Bracing Yourself for a Possible Near-Term Melt-Up (A Very Personal View) The next phase in this long-running bull market may be even more dizzying gains Jeremy Grantham - GMO's Jeremy Grantham: Bracing Yourself For A Possible Near-Term Melt-Up (A Very Personal View)
I find myself in an interesting position for an investor from the value school. I recognize on one hand that this is one of the highest-priced markets in US history. On the other hand, as a historian of the great equity bubbles, I also recognize that we are currently showing signs of entering the blow-off or melt-up phase of this very long bull market. The data on the high price of the market is clean and factual. We can be as certain as we ever get in stock market analysis that the current price is exceptionally high. In contrast, my judgment on the melt-up is based on a mish-mash of statistical and psychological factors based on previous eras, each one very different, so that much of the information available is not easily comparable. It also leans very heavily on a few US examples. Yet, strangely, I find the less statistical data more compelling in this bubble context than the simple fact of overpricing. Whether you will also, dear reader, remains to be seen. In any case, my task in this note is to present the evidence, both statistical and touchy-feely, as clearly as I can. More...

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Micron Could Be the Guru Bargain Stock of 2018 2017 was a great year for Micron and the stock still has room to run David Einhorn,Jeremy Grantham - Micron Could Be The Guru Bargain Stock Of 2018
All the big name money managers seem to own a piece of the American memory and storage technology company, which is also a leading component of the next wave of Internet of Things (IoT) and Artificial Intelligent (AI) devices. What’s even better is that the Micron is currently trading at a pretty low valuation. More...

MICRON, STORAGE, MEMORY, TECHNOLOGY, NAND, DRAM


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5 Undervalued Stocks With Growing Book Value Margins of safety and rising book value per share Jeremy Grantham,Ken Fisher - 5 Undervalued Stocks With Growing Book Value
According to GuruFocus’ All-In-One Screener, the following companies have grown their book value per share (BV/S) over the past decade. More...

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Costco Rises on Earnings Beat Retailer boosted by online sales Chris Davis,Jeremy Grantham - Costco Rises On Earnings Beat
Costco Wholesale Corp. (NASDAQ:COST) reported its performance for the first quarter of fiscal 2018 after the closing bell on Thursday, beating expectations. More...

COSTCO, EARNINGS, 1Q, 2018, BEAT, RISE


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Jeremy Grantham's 3rd Quarter Commentary - Career Risk and Stalin’s Pension Fund: Investing in a World of Overpriced Assets (With a Single Reasonably-Priced Asset) Inside GMO there are three different views on whether and how rapidly the market will revert to its pre-1998 normal Jeremy Grantham - Jeremy Grantham's 3rd Quarter Commentary - Career Risk And Stalin’s Pension Fund: Investing In A World Of Overpriced Assets (With A Single Reasonably-Priced Asset)
Inside GMO there are three different views on whether and how rapidly the market will revert to its pre-1998 normal: James Montier feels it will be business as usual and revert within 7 years. Ben Inker also holds out for a 7 year period, but includes a 33% chance it will revert to a higher average valuation (the “Hell” scenario). I believe that the reversion on valuations will take 20 years, and that profit margins will probably only revert two-thirds of the way back to the old normal. More...

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Four M&A Trades for a Guru Christmas Out of more than 75 deals in the works right now, these are my favorites Jim Simons,Jeremy Grantham - Four M&A Trades For A Guru Christmas
Risk arbitrage is a favorite of top money managers as you'll see by the guru ownership in each of these below. To do it like the Warren Buffetts (Trades, Portfolio) of the world, you need to be comfortable leveraging longer-term cash positions to buy and sell stocks for short-term gains with borrowed money. For example, if you’ve built a $2.84 million portfolio on 10 shares of Berkshire Hathaway (BRK.A)(BRK.B), you would keep that position intact and buy short-term “workout” positions on margin, understanding that if the position went the wrong direction, you may have to liquidate one of your shares -- or pony up the cash for a margin call. That’s why you should follow some simple rules. More...

ARBITRAGE, MERGER, ACQUISITION, MONSANTO, GENWORTH, DISCOVERY COMMUNICATIONS, WARREN BUFFETT, JIM SIMONS, JEREMY GRANTHAM


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6 Undervalued Stocks With Rising Book Value Boston Beer, Cognizant with margins of safety and rising BV/S Richard Pzena,Jeremy Grantham,Pioneer Investments, - 6 Undervalued Stocks With Rising Book Value
According to GuruFocus’ All-In-One Screener, the following companies have grown their book values per share (BV/S) over the past decade. More...

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GMO Commentary: China’s Rising Presence in Emerging Debt Markets By Carl Ross and team Jeremy Grantham - GMO Commentary: China’s Rising Presence In Emerging Debt Markets
Introduction More...

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6 Stocks With Low P/E Ratios Gurus are investing in these companies Jeremy Grantham, John Buckingham, Steven Cohen, Ch - 6 Stocks With Low P/E Ratios
Here are six stocks gurus are buying that are trading with low price-earnings (P/E) ratios. Most of them are fairly valued, according to the DCF calculator. More...

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Jeremy Grantham Paper - The Good Thing About Climate Change: Opportunities As climate change has become increasingly problematic for the world, the investment community is starting to pay attention to the investment risks it poses Jeremy Grantham - Jeremy Grantham Paper - The Good Thing About Climate Change: Opportunities
Executive Summary More...

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Where Oil Prices Are Headed See different things that could ignite a tradable trend in oil in the near future Jeremy Grantham - Where Oil Prices Are Headed
Oil has been in my “too hard” bucket the last six months. I couldn’t identify any catalyst that could drive it out of its trading range. I mostly expected it to chop around which has turned out to be the case. More...

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James Montier White Paper From GMO - 'The S&P 500: Just Say No' GMO’s S&P 500 forecast Jeremy Grantham - James Montier White Paper From GMO - 'The S&P 500: Just Say No'
Pension Trustee Smith: I recommend to the committee that we liquidate our International equity assets and index our equity exposure to the S&P 500. US stocks have outperformed for the last 20 years, and I see no reason why that should not continue. Everyone knows that the US is the strongest economy and market in the world. More...

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Jeremy Grantham's GMO Quarterly Letter: Why Are Stock Market Prices So High? Contrary to theory, the market P/E level does not primarily reflect future prospects. It reflects current conditions Jeremy Grantham - Jeremy Grantham's GMO Quarterly Letter: Why Are Stock Market Prices So High?
Summary More...

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7 Companies Growing EPS, Revenue These companies have grown their profitability over 5 years Chuck Royce,Jeremy Grantham - 7 Companies Growing EPS, Revenue
The following companies have boosted their revenue and earnings over the last five years. More...

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7 Undervalued Stocks That Are Becoming Expensive Companies have wide margins of safety Jim Simons,Jeremy Grantham,Sarah Ketterer,Bill Nyg - 7 Undervalued Stocks That Are Becoming Expensive
According to the GuruFocus All-in-One Screener, several gurus are focusing on stocks whose Peter Lynch fair values are far above the current prices. The following stocks are trading with wide margins of safety and have positive performances over the past 12 months. More...

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7 Undervalued Stocks Boosting Their Earnings These stocks have a wide margin of safety Jeremy Grantham, Jim Simons, Joel Greenblatt, Chuc - 7 Undervalued Stocks Boosting Their Earnings
Companies with growing earnings per share (EPS) are often good investments as they can return a solid profit to investors. According to the discount cash flow (DCF) calculator, the following are undervalued companies that have grown EPS over a five-year period. More...

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7 Stocks Beating the Benchmark Outperforming companies with rising prices Jeremy Grantham, Joel Greenblatt, Chuck Royce, Jim - 7 Stocks Beating The Benchmark
According to GuruFocus' All-in-One Screener, the following are some of the stocks that have outperformed the Standard & Poor's 500 Index over the last 12 months and were bought by gurus during the last quarter. More...

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