When he was at Societe Generale, I very much enjoyed the work of James Montier. He is now working with Jeremy Grantham at GMO.
I have two of James’ books in my queue, Behavioural Finance: Insights into Irrational Minds and Markets (2002) and Behavioural Investing: A Practitioners Guide to Applying Behavioural Finance (2007).
He hasn’t begun publishing officially yet, but this slide deck has been making the rounds: Ten Lessons (Not?) Learnt:
Markets Aren’t Efficient
Relative Performance is a Dangerous Game
This Time is Never Different
Valuation Matters (in the Long Run)
Wait for the “Fat” Pitch
Leverage Can’t Turn a Bad Investment Good
Beware of Over Quantification
There is No Substitute for Skepticism
The Benefits of Cheap Insurance
The full GMO piece can be found here.
Hat tip Trader’s Narrative