ClaimsJeremy Grantham

“We value investors have bored momentum investors for decades by trotting out the axiom that the four most dangerous words are, “This time is different.””

Jeremy Grantham, GMO co-founder, letter author 2017 1Q 2017 GMO Quarterly Letter: Up At Night (GMO)

Factual Economics and markets

Value investors have for decades told momentum investors that the four most dangerous words are "This time is different."

Unresolvable The public record could not settle it.

Factual: Statements about the present or the past, checked against the record: did they hold up?

Said for an organisation they lead or work for; it counts on both records.

Reasoning

Vague generalisation about what unnamed investors have said for decades.

Cite this claim

Jeremy Grantham, “Value investors have for decades told momentum investors that the four most dangerous words are "This time is different."” (said 2017). Verdict: unresolvable. Reliability API, claim c_ecac171dfdc4, method 0.1.0+28da144b, dataset release v1.1.2. https://epistacklabs.com/claims/c_ecac171dfdc4

This claim is in dataset release v1.1.2, with the same verdict.

Reply to this claim

For Jeremy Grantham, or someone speaking for them: a correction or counter-evidence. Replies are read before anything is shown; an approved reply shows your name, role, date, statement and link. Your email address is never shown and is deleted 30 days after the decision (privacy).

More factual claims by Jeremy Grantham

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    Bonds currently offer the lowest interest rates in human history.

  2. Mostly true Factual 28 July 2025
    “31 years later, the land is not back, and stocks are not back.”

    Thirty-one years after Japan's 1989 bubbles, Japanese land prices and stocks had not returned to their 1989 levels.

  3. Mostly true Factual 28 July 2025
    “one of the two or three lowest relative points in history”

    Emerging markets and value stocks trade at one of the two or three lowest relative valuation points in history compared to the U.S.

  4. Mostly true Factual 5 July 2023
    “Now we have, since ChatGPT and October and November last year, we have a new little flurry of interest that is very concentrated.”

    Since ChatGPT and October-November 2022, there has been a new little flurry of market interest in AI that is very concentrated.

  5. Mixed Factual January 2023
    “in 1974 the market did turn up, after a horrific 62% real decline in two years, exactly”

    In 1974 the US market turned up, after a 62% real decline over two years, exactly as the first Fed rate cut took place.

All of them

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