TEST 2026 final

Grantham’s Ghostly Glimpse: Beyond the Permabear’s Portfolio

Jeremy Grantham, a man who has seen more market cycles than most of us have seen tax returns, is still finding value. While the permabear narrative often conjures images of doomsday prophets, Grantham, remarkably, still manages a portfolio, and he’s sharing his current thinking.

Born in the shadow of the Great Depression, Grantham’s career is a testament to weathering storms. He’s navigated booms and busts with the seasoned calm of a captain who’s seen it all, from the dot-com implosion to the GFC’s seismic tremors. Now, as 2026 looms, he’s offering a peek into his strategy, a rare insight from a voice that has consistently warned of impending doom, yet still finds reasons to invest.

His current focus? Value. Not the speculative froth that often captures headlines, but the sturdy, often overlooked, assets that have historically proven resilient. It’s a stark contrast to the meme-stock frenzy, a sort of digital tulip mania, where fundamentals are often an afterthought.

This approach echoes historical precedents. Think of the post-war rebuilding, where patient capital flowed into tangible assets, or even the early days of venture capital, where long-term vision trumped short-term gains. Grantham’s current outlook, while cautious, isn’t entirely devoid of opportunity.

The challenge, as always, lies in discerning genuine value from mere noise. In a world awash with instant information and algorithmic trading, the patient investor, much like Grantham himself, is becoming an endangered species.

What Matters:

• Value hunting: Seek unloved assets with solid fundamentals.
• Long-term perspective: Ignore short-term market volatility.
• Discipline: Stick to your investment thesis, even when it’s unpopular.

Will Grantham’s contrarian wisdom guide us through the next inevitable market recalibration?

For informational purposes. Not investment advice.