---
title: "Meaning & Key Takeaway of: Volatility is a symptom that people have…"
description: "\"Volatility is a symptom that people have no idea of the underlying value-that they have stopped playing the asset game. They're not buying because it's..."
image: "https://sms4smile.com/quotes/i/d8c/jeremy-grantham-11433_assets_volatility-is-a-symptom-that-people-have_541542.png"
---

#  Volatility is a symptom that people have no idea of the…

![“Volatility is a symptom that people have no idea of the underlying value-that they have stopped playing the asset game. They're not buying because it's a company with certain attributes. They're buying because the price is rising. People are playing games not related to any concept at all of what…” quote by Jeremy Grantham](https://sms4smile.com/quotes/i/d8c/jeremy-grantham-11433_assets_volatility-is-a-symptom-that-people-have_541542.png)   [Download](https://sms4smile.com/quotes/i/d8c/jeremy-grantham-11433_assets_volatility-is-a-symptom-that-people-have_541542.png) [Open image](https://sms4smile.com/quotes/i/d8c/jeremy-grantham-11433_assets_volatility-is-a-symptom-that-people-have_541542.png)

> “Volatility is a symptom that people have no idea of the underlying value-that they have stopped playing the asset game. They're not buying because it's a company with certain attributes. They're buying because the price is rising. People are playing games not related to any concept at all of what the long-term value of the enterprise is. And they know it.”

[Jeremy Grantham](https://sms4smile.com/quotes/author/jeremy-grantham/)

## About This Quote

This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.

Investors chase price trends rather than fundamental value, turning markets into speculative games detached from long‑term enterprise health.

**In simple terms:** People focus on price, not real value.

Key Takeaway

Prioritize fundamentals over hype.

Themes

investment speculation value perception

Mood

cautious analytical

Type

thought‑provoking financial

When to use this quote

- portfolio management
- risk assessment
- long‑term investing
- financial education

Key Concepts

market psychology fundamental analysis behavioral finance

Questions to Reflect On

- What drives your investment decisions?
- How can you align with long‑term value?

A Different Perspective

Short‑term price focus can cause volatility and mispricing.

★ ★ ★ ★ ★   No ratings yet

[Buying](https://sms4smile.com/quotes/about/buying/) [Company](https://sms4smile.com/quotes/about/company/) [Customer](https://sms4smile.com/quotes/about/customer/) [Enterprise](https://sms4smile.com/quotes/about/enterprise/) [Games](https://sms4smile.com/quotes/about/games/) [Ideas](https://sms4smile.com/quotes/about/ideas/) [Long term](https://sms4smile.com/quotes/about/long-term/) [People](https://sms4smile.com/quotes/about/people/) [Playing games](https://sms4smile.com/quotes/about/playing-games/) [Values](https://sms4smile.com/quotes/about/values/) [Volatility](https://sms4smile.com/quotes/about/volatility/)

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