![]() ![]() Grantham said the worrying signs are the performance of speculative stocks like Ark Innovation ETF, which has fallen by some 52 percent since a year ago. The tech-heavy Nasdaq, which already has fallen more than 8 percent this month, will continue its spiral downward, he said. That pop could send the S&P 500 from its current levels of around 4,600 to 2,500, he said. Jeremy Grantham has predicted other financial crises, such as the 2008 collapse. He didn’t put a time on when he expects the bubble to pop - only that markets are now in the late stages of a super bubble process that makes them vulnerable to a sharp decline at any time. “Today in the US we are in the fourth super bubble of the last hundred years,” Grantham said, arguing that the S&P 500 index of the biggest US stocks could fall some 45 percent from its current levels. “It is the worst kind of party-pooping.” Still, he’s making the case that the world is on course to a crash similar to those seen in the Great Depression of 1929, the dot-com bubble of 2000 and the financial crisis of 2008. “In a bubble, no one wants to hear the bear case,” he said in a letter to investors Thursday. Jeremy Grantham, the 83-year-old founder of Boston-based money manager Grantham Mayo van Otterloo, points to a rapid run-up in “parody” cryptocurrencies like dogecoin and to huge gains in otherwise dumpy “meme” stocks like AMC and GameStop as examples of the out-of-control speculation that’s feeding the bubble. Markets are in the midst of a “super bubble” that could burst any time - and when it does, stocks will tumble by 50 percent, warns one of Wall Street’s most famed investors, who accurately called other recent financial collapses. Goldman’s AI talent getting poached by the bank’s Wall Street rivals: report ![]() JPMorgan CEO warns Wall Street to prepare for a recession: ‘Dangerous and inflationary’ Goldman Sachs could face exodus over shallow bonus pool: sources Wells Fargo CEO warns severance costs could hit $1B this quarter as more layoffs loom ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |