**Intact Gift Giving Condition book**

While other money managers were focused on blue chip stocks, he studied stock market history and constructed by hand the first indices for small-cap and value stocks. "The tension between what the market is doing and what, by the author’s lights, it ought to be doing, will keep investment-minded readers turning these smart and accessible pages….A fine and essential work.”—James Grant, The Wall Street Journal From the renowned iconoclast investor comes a brilliant account of sixty years spent hunting for value and sidestepping bubbles in a changing financial world When Jeremy Grantham entered the investment business in the 1960s, he brought the thrifty Quaker values and Yorkshire independence he had been raised with. Charting their ebb and flow, he could see clearly 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 was a pioneer of index investing. Soon after, he co-founded GMO and spent the firm’s early earnings on a hard drive the size of an industrial washing machine, becoming the first firm to use a computer for investment analysis.