Is a 70% crash coming?… Grantham’s track record problem… what a 1992 magazine cover got right… the FOMO that isn’t there… the earnings pushback against bears
Last week, Jeremy Grantham, British investor, billionaire, and GMO co-founder, went full bear:
This is the most expensive market in American history…
My guess is sometime between two weeks ago, two weeks from now, two months, two quarters and conceivably two years – the timing is always terribly uncertain – the market’s going to peak out and drop back to trend.
And getting back to trend from here is closer to a 70% decline than a 50% decline
