Jeremy Grantham and Edward Chancellor - LoM - 16 April

When Jeremy Grantham entered the investment business in the 1960s, he brought the thrifty Yorkshire values he had been raised with. While other money managers focused on blue chip stocks, he studied stock market history and constructed the first indices for small-cap and value stocks. Charting their ebb and flow, he saw the powerful force that would become central to his investment philosophy: mean reversion, 'the heartbreaking principle that good times always revert back to more boring, more ordinary times.'
In the early 1970s Grantham launched one of the first S&P 500 index strategies. Soon after, he cofounded GMO, which became the first firm to use a computer for investment analysis.
In the late 1990s he acquired notoriety as a 'permabear' for refusing to buy into dotcom mania. Clients left in droves, but he was vindicated when the bubble burst in 2000. Yet while his wealth grew, so did his alarm at the disastrous consequences of short-term thinking for both investors and for the planet, and he has directed nearly all his wealth to environmental protection.
Written with the bestselling financial historian Edward Chancellor, The Making of a Permabear is replete with investment insights and provides a candid insider's tour of the booms and busts of the past half century.

Mr. Grantham co-founded GMO in 1977 and is a member of GMO’s Asset Allocation team, serving as the firm’s long-term investment strategist. He is the Chairman of the GMO Board of Directors, a partner of the firm, and has also served on the investment boards of several non-profit organizations. Prior to GMO’s founding, Mr. Grantham was co-founder of Batterymarch Financial Management in 1969 where he recommended commercial indexing in 1971, one of several claims to being first. He began his investment career as an economist with Royal Dutch Shell. Mr. Grantham earned his undergraduate degree from the University of Sheffield (U.K.) and an MBA from Harvard Business School. He is a member of the Academy of Arts and Sciences, holds a CBE from the UK and is a recipient of the Carnegie Medal for Philanthropy.

Info: Please ensure you arrive no later than 18:25 as latecomers may not be admitted once the event has commenced.

Event Venue & Nearby Stays

Library of Mistakes, 33A Melville Street Lane, Edinburgh, United Kingdom

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