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how do investment gurus like Jeremy Grantham make money especially when a recession looms around what are the investment strategies that have helped them to amass a huge amount of wealth let's see Jeremy Grantham is a British investor and co-founder and chief investment strategist of Grantham Mayo van otalu a boston-based asset management firm famed value investor Jeremy Grantham says the best returns and Investments don't come from taking the biggest risks but from buying the cheapest assets he says the less an investor pays for a stream of earnings the higher the chances of his return over time will be you don't get rewarded for taking risks she get rewarded for buying cheap assets if the assets she bought got pushed up in price simply because they were risky you're not going to be rewarded for taking the risk you're going to be punished for it he told investors in his quarterly letter grantham's investment strategy is built on the idea of mean reversion he makes his investment choices by looking for irrational priced stocks he says financial assets can be too expensive or too cheap at any given moment but will always go back to average the worst thing investors can do is to get in or out of an investment for the simple fear of lagging behind their peers grandm has a reputation for accurately predicting about three major market bubbles Japan's asset price bubble in 1989 the.com bubble in 2000 and the US mortgage crisis in 2008 gram believed believes that individual investors are at an advantage why does he think so Grantham says the basic truth of investment is that investor behavior is driven by career risk he feels most investment managers fear taking bold calls and prefer going with the flow and doing what the peers are doing because it's the safest option to survive in the investment industry Grantham says individual investors can take advantage of this practice of investment as it creates Harding and thus drives prices well above or below their Fair values the prime directive is first and last to keep your job to do this you must never ever be wrong on your own to prevent This calamity professional investors pay ruthless attention to what other investors in general are doing the great majority go with the flow either completely or partially this creates hering or momentum which drives prices far above or far below the fair price he says giving the example of the internet bubble he says companies that were suffering big losses and had no future were getting billion dollar valuations and fund managers were buying them at excessive prices just because they feared missing out or deviating from the performance of their peers grandor tells all investors to believe in history in investing history tends to repeat itself and all investment challenges pass away in due course investors should try to survive the tough times and ignore the vested interests of the industry which tries to mislead them from time to time about the market says grant them the market is gloriously inefficient and wonders far from fair price but eventually after breaking your heart and your patience and for professionals those of their clients too it will go back to fair value your task is to survive until that happens he says he also cautions investors against borrowing and lending an Investor's ability to survive in the market is typically Humper if they intend to borrow money for Investments the Allure of borrowing has been so strong that many have demonstrated they're unable to resist it treating it like a narcotic portfolios that are leveraged can be stopped but those that aren't can't leverage diminishes patience which is a vital asset for investors greed irresponsibility and financial aggression are encouraged it keeps increasing your profits until all of a sudden it ruins you for individuals it enables them to have today what they otherwise wouldn't be able to buy tomorrow he claims it's advisable to diversify your Investments rather than putting all of your money into one since a portfolio with multiple Holdings is more resilient and can weather Market fluctuations he States it's obvious that the more diverse and numerous your Investments are the more likely it is that you'll weather those crucial times when your major wager loses out to take advantage of favorable market conditions investors must be patient the market will constantly experience ups and downs therefore when a good investment opportunity presents itself it's advisable to invest for the long time wait for the good cards if you've waited and waited some more until finally a very cheap Market appears this will be your margin of safety now all you have to do is withstand the pain as the very good investment becomes exceptional individual stocks usually recover but entire markets always do if you follow the previous rules you'll Outlast the bad news he says compared to professional managers individual investors have a significant Advantage because they're only responsible for reporting their performance to themselves they also don't have to worry about losing their jobs or having to equal the Market's return every year individuals can afford to keep a temporary loss for a long-term winning solution unlike professional investment managers which is a big Advantage for a number of reasons including minimizing taxes and transaction costs individuals can also afford to keep a temporary loss for a long-term winning conclusion unlike professional investment managers which is a big Advantage for a number of reasons including minimizing taxes and transaction costs the individual is far better positioned to wait patiently for the right pitch while paying no regard to what others are doing which is almost impossible for professionals according to him in the world of investing optimism is frequently seen as a beneficial survival trait but it has a drawback particularly for investors who find it difficult to accept negative news this was an example where the stronger the case was made the more unpleasantness it's elicited he says in a real stock bubble like that of 2000 bearish news in the US was received like news of the Bubonic plague bearish professionals were fired just to avoid the dissonance of hearing the bare case investors need to learn to weigh the pros and cons of the investment sector and avoid being overly hopeful one should be willing to hear bearish bad news about the risks they've taken with their capital and make informed decisions about them expert investors can and often do recognize good deals but they're not always able to take action on them this is because seasoned investors don't want to take the chance of falling behind their colleagues and losing their employment in the event that an investment bet doesn't work out however Grantham believes people shouldn't worry too much and should believe their research if they come upon an inexpensive investment even though it might go out of sty soon you can make bigger bets than professionals can when extreme opportunities present themselves because for them the biggest risks that come from temporary setbacks extreme loss of clients and business doesn't exist for you so if the numbers tell you it's a real outlier of a mispriced market grit your teeth and go for it he says investors should look to calculate estimates and forecasts of an attractive investment proposition by using simple methodology and shouldn't let any external factors affect their research these estimates are not about nuances or phds they're about ignoring the crowd working out simple ratios and being patient he says to become successful investors must know their limitations as well as their strengths and weaknesses if you can be patient and ignore the crowd you'll likely win but to imagine you can and to then adopt a flawed approach that allows you to be seduced or intimidated by the crowd into jumping in late or getting out early is to guarantee a pure disaster you must know your pain and patience thresholds accurately and not play over your hey says he also believes that if investors cannot resist Temptations then they should absolutely not manage their own money people can either hire a manager who has those skills to manage their money efficiently or they can pick a sensible globally Diversified index of stocks and bonds for investment which they should never look at again until they retire he says Grantham also feels that if individuals have patients a decent paying threshold and ability to withstand hard mentality some basic college level education in math and a reputation for common sense they can be successful in the investment World in my opinion you hold enough cards and will beat most professionals which is sadly but realistically a relatively modest hurdle and may even do very well indeed he says he advised against investing in the United States due to the $33 trillion debt issue facing the country the high interest rate environment the unsustainable high yield levels and the significant difficulties in the mortgage and real estate sectors instead he pointed to developed markets like the United Kingdom Japan and most of Europe as being good and cheaper alternatives to investing in the US in general the rest of the world seems investable he says do your analysis make your mistakes Etc but it's reasonable that's it guys prepare your investment strategy by doing your research about the stock market if this video helped you give a thumbs up for more videos like this subscribe to our Channel and turn on the notifications see you around
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