Jeremy Grantham's latest letter!
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About Me
- Frank G Jolley,CFA
- Frank Jolley is the President and Chief Investment Officer of Jolley Asset Management, LLC, which he founded in 1998. Mr. Jolley graduated from the University of North Carolina with a BS in Business Administration and recieved his CFA in 1994. Prior to founding Jolley Asset Management, Mr. Jolley was the Chief Investment Officer of the Trust Investment Department at Centura Bank, and he has been involved in investments, banking and financial analysis since 1979. He also serves as a member of the CFA Institute and the North Carolina Society of Financial Analysts.
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1 comment:
I think the "turkeys" are flying because recovery plays are in vogue. I've seen some low P/E stocks shoot up simply because the companies didn't cut their dividend.
However, the utilites are also climbing up. They're not moving fast, but their bull runs tend to be durable - particularly the natural-gas ones that don't have a coal cloud hanging over them. I think Mr. Grantham is right about the times changing towards solid, if stolid, blue chips.
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