Grantham does first TV interview--sees value, but he's still nervous

Long-term bear Jeremy Grantham, chairman of GMO, does his first TV interview with Consuelo Mack. (Broadcast 11-21-08). He says stocks are cheap, but not spectacularly cheap (which can happen). What we've seen is the bursting of the "first truly global bubble that ever existed." There's extreme fear especially in fixed income markets.

See Grantham's 3q08 letter to investors.