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How Shall We Then Invest?
Contrarian Profits (October 30th, 2008) Writes:
Warren Buffett says buy. Jeremy Grantham says it will get worse. Both are celebrated value investors. Who is right? It all depends upon your view of the third derivative of investing. Today we look at valuations in the stock market. This is the second part of a speech I have given in the past few weeks in California and Stockholm. I am updating the numbers, as the target keeps moving.
While from one perspective things look rather difficult, from another there is a ray of hope. What can you expect to earn from stocks over the next five years? It should make for an interesting letter. Note: this will be a little longer than usual, but part of it is there are a LOT of charts.
I likened this to the economic situation we are in now. With consumer spending “resetting” to a new lower level, we are going to have to
...(GE), Berkshire Hathaway, Bill Gates, California, contrarian profits, David Dreman, Dell, Dreman, Eric Lufkin, finance, jeremy grantham, John Hussman, Kaupthing Bank, Lufkin, Malta, Market Commentary, Money Magazine, New York, nosebleed, Quick, Real Estate, richard russell, Robert Shiller, Sp 500, Stockholm, Sweden, Thailand, the New York Times, United States, United States government, USD, Vitaliy Katsenelson, Warren Buffett
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