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Jeremy Grantham Q4 Letter: Pavlov's Dogs
In Jeremy Grantham’s 4Q Letter, he summarizes what went well and not so well in 2010, then looks ahead to 2011, sharing what he believes to be critical issues for investors to focus on. He also continues his series of Letters to the Investment Committee with a piece called “On the Importance of Asset Class Bubbles for Value Investors and Why They Occur.” Must read.
Pavlov’s Bulls (pdf)
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Anyone notice the market going up like a rocket and then falling just as hard two mins later?
PPT in the house!
IBM. 161 to 164.35 in a second.
Desperate lunge for the finish line. It failed in case anyone didn't notice.
Straight up for the past half hour. Looks to be a nice intraday reversal. Signals a good week ahead.
I agree, especially given the nice sell off we had last week. Time to head back up. Outstanding Consumer Confidence numbers IMO will only get better as the markets continue higher. 2011 shaping up to be another winner.
I look forward to you eventually joining Johnny Bravo in his Frigidaire shipping container condo under the overpass.
Why does anybody even bother to pay attention anymore?
I had a comment! An erroneous spike? So that explains Pavlov's Bulls.
The TOP in the s&p 500 for the next two years is in: HUGE head and shoulders pattern
shoulder 1 was the top of the .com bubble.
the head was late 2007
shoulder 2 could be anywhere between this level and the 2001 top. If the correction continues into the next few days, go short on margin.
I really do need to go from 80% long to 100% now. LOL. Gawd I heart top-callers.
you mean DOW right.
both. Technically, the double top for the s&p is in for the next 10 years.
Darn! I was hoping with your double topper you'd have taken my bet. I guess you ain't that silly. ROFLMAO!
Adjust your TA charts for Infinite Bennie Bux.
edit
Betcha an innernet brewski we print 1300+ this week. Afterwards I'll be so kind to allow you a chance to double down on a bet we'll also see a 1400+ print by EOY.
Virtually every hedge fund trader on the planet is trying to front-run the Davos comments or figure out if The Bernank is going to halt QE or not.
Tape is now trading as if all the quants were on crack.
Is that your daughter?
need it over 12,000 for the big speech tonight also
the only way QE2 will stop is so QE3 can start.
No way to stop this money train...
I'm pretty sure there will never be a QE3
Obama needs to cut spending.
Fire people.
I don't think that if he fired 500.000 government employees and will order a QE3 BANK BONUS, that the voters would like it, so congress wouldn't aprove.
NOP, QE2 is running out and better start making it 1 BULLET 1 KILL
SD,
Correct. I think this constant clamor for QE3 is from the wishful thinking crowd. Strangely, that puts us within the six months of that end...which makes today's last minute stick save rally very strange, indeed.
If QE2 didn't do it, QE3 won't either and people would only start talking about a QE4 if they ever mentioned QE3.
Nop, Sugar Daddy Benny B. is calling it quits after this one.
I don't see the connection between giving insolvent banks money through QE and Obama cutting spending.
Granthan reads Anse Intendance...
http://www.entendance.com/forums/viewtopic.php?f=7&t=563&p=14954#p14879
Wow. Anyone besides me see the rather unusual, unnatural-looking trading at the close of the session?
Something fishy is going on here...
/:
Just dip buyers. We should see some nice upward momentum continue tomorrow with the State of the Union tonight and FOMC tomorrow. The market leaders like AAPL have turned in the past two days to continue higher as well. I guess we saw our dip. I thought maybe we'd get to 1250 but they didn't let it get that low.
BTFDers, you say.
Okay.
BUY ANY STOCK YOU WANT!!!!
As long as you remember to buy the puts that go with it ;)
There be birthers, truthers, gold bugs and whateverers, so lets now add "ralliers". Another buncha Conspiracy Theorists!
Any stop in QE will result in a tanking of all markets. QE is the only thing keeping banks solvent long enough for a day. There is no end in sight at this point, so just be prepared for Ben to start talking about QE3.
FOMC meeting tommorow right? Oh boy
The Dow is down even with POMO. Are we nearing a top for stocks or can Bennie still ponzi around? thoughts?
My 1 cent is that the PD's will spend like crazy tommorow and give a hugh rally tommorow.
If your long on stocks worth 1 cent. That's not a high risk.
Otherwise:
Today, I've seen a lot of stock take out stops and go down pretty fast.
Untill they all suddenly started to rise at the same time.
These kinds of tricks costs billions a day.
And the cookie jar of the FED is looking mighty empty now.
It may make sense to you that they inject like forever and that it's a sure thing every day, but nothing lasts forever.
that's great. now can someone put up a pdf, not a scribd, of grantham's eisenhower piece?
....and not a single word about America's Fiscal Trap. Debts just don't matter until they do I guess.
So.....it's off and running for the major indexes this year, while precious metals get pummeled to death.
I'm taking all my money and going home.
So the market is rocketing up for no reason and gold and silver are dropping despite common sense, and you're taking your money home? Why not take advantage of a buying opportunity?
tar, just a sarc post. If silver gets down to below 20 I'm all-in.
I stopped reading after he insisted weather patterns were related to global warming.
Same here.
weather patterns and climate patterns are two very different things. The later affects the former, not the other way around. Weather patterns are sort of like the daily markets, climate patterns are like Ellioit Wave, 200dma, long term patterns, etc.
You can ignore the opinion but not the data.
A Povlov comment! Breath. Ahhhh Breath!!!! Pick some XAG @ 22 and some change.
Like we keep saying; there's a sucker born every minute. Buying at the top is the trademark of a fool. In America fools are behind most everything anymore; especially this communist stock market.
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