Per Bloomberg reports, renowned investor Jeremy Grantham, who is also well known for his market bubbles calls, has now made a bold claim about the US stocks.
US Stocks Set To Collapse — Jeremy Grantham
About a year ago, Grantham had predicted a historic kind of collapse in the US stocks market and now he believes that the collapse might have already begun. And according to the investor, even if the Fed were to intervene, at least nearly 50% would be seen in the collapse.
Meanwhile, likening the current situation to global crashes of previous times like 1929, dot-cum situation in the year 2000, and most recently, the popular financial crisis of 2008, Grantham assures that the US stocks are already in a “super bubble” just as well. He then expressed confidence that this particular bubble will burst.
His reasons may not be far-fetched though. By Thursday, the S&P 500 was down 45% from Wednesday’s close — and another 48% from its January 4 peak.
However, speaking in a Bloomberg “Front Row” interview, Grantham surprisingly admitted that he wasn’t very sure about the bubble at the time he was making his prediction last year. He said in part:
“I felt highly likely, but perhaps not nearly certain. Today, I feel it is just about nearly certain.”
Interestingly, Grantham’s analysis is based on many pieces of evidence. Apart from some of the most speculative stocks falling since February, 2021, the last indicator of a bubble in its late-stage which to him was the breaking point was the “crazy investor behavior” of last year.
These include the unexpected rise of nameless cryptocurrencies and meme coins, and the amount millions that have been crazily spent on non-fungible tokens, or NFTs.
According to Grantham, 83,
“checklist for a super bubble running through its phases is now complete”.
And now, the renowned investor believes is time that the wild collapse begins.
The post Investor With 50 Years Experience Says US Stocks Are Set To Plunge Uncontrollably appeared first on CoinGape.
Source: https://coingape.com/renowned-investor-says-theres-no-hope-for-us-stocks/
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