The Making of a Permabear: As seen on Steven Bartlett's THE DIARY OF A CEO
Feb 2026 · Atlantic Books
Ebook
416
Pages
Tools
info
family_home
Eligible
info
About this ebook
As seen on Steven Bartlett's The Diary of a CEO
'[A] fine and essential work' Wall Street Journal
'Fascinating from beginning to end' Bloomberg
'Insightful and droll' Financial Times
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.
'[A] fine and essential work' Wall Street Journal
'Fascinating from beginning to end' Bloomberg
'Insightful and droll' Financial Times
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.
As seen on Steven Bartlett's The Diary of a CEO
'[A] fine and essential work' Wall Street Journal
'Fascinating from beginning to end' Bloomberg
'Insightful and droll' Financial Times
When Jeremy Grantham entered the investment business in the 1960s, he brought the thrifty Yorkshire values h...
Discover more
About the author
Jeremy Grantham is cofounder and long-term investment strategist of GMO, a Boston-based investment management firm with offices around the world, and founder of the Grantham Foundation for the Protection of the Environment. He is a member of the American Academy of Arts and Sciences and received the Carnegie Medal for Philanthropy in 2017 as well as the Harvard Business School's 2025 Alumni Achievement Award. He lives in Boston.
Edward Chancellor is an award-winning financial journalist. He is the author of The Price of Time, winner of the 2023 Hayek Book Prize, and Devil Take the Hindmost: A History of Financial Speculation, a New York Times Notable Book of the Year. He lives in Somerset.
Jeremy Grantham is cofounder and long-term investment strategist of GMO, a Boston-based investment management firm with offices around the world, and founder of the Grantham Foundation for the Protection of the Environment. He is a member of the American Academy of Arts and Sciences and received ...
Rate this ebook
Tell us what you think.
Reading information
Smartphones and tablets
Install the Google Play Books app for Android and iPad/iPhone. It syncs automatically with your account and allows you to read online or offline wherever you are.
Laptops and computers
You can listen to audiobooks purchased on Google Play using your computer's web browser.
eReaders and other devices
To read on e-ink devices like Kobo eReaders, you'll need to download a file and transfer it to your device. Follow the detailed Help Center instructions to transfer the files to supported eReaders.
