by Tom Bradley

When asked what lessons investors learned from the 2008 Financial Crisis, Jeremy Grantham, Co-Founder of GMO (a U.S. investment manager), responded, "In the short-term a lot, in the medium-term a little, in the long-term, nothing at all. That would be the historical precedent."

As we exited 2022, we’ve been doing lots of navel gazing about what we learned last year, or more to the point, what we should learn. I started the year with an article on this topic. For that reason, I’ll understand if you don’t want to hear more lessons, but ... the Grantham quote above came from a post by Joe Wiggins of Behavioural Investment in the U.K. It explores the topic even further and is a good read.