![]() Those at the very cheap end include traditional value stocks all over the world, relative to growth stocks. Jeremy said that today’s market features extreme disparities in value by asset class, sector, and company. The billionaire investor sees this as a late stage of a bubble as prices move further away from trend, at accelerating speed and with growing speculative fervour. “Even if it is short, this stage at the end of a bubble is shockingly painful and full of career risk for bears,” he said. Grantham advised that this is what one should expect from a late-stage bubble – an accelerating, nearly vertical stage of unknowable length – but typically short. “I am not at all surprised that since the summer the market has advanced at an accelerating rate and with increasing speculative excesses,” he said. Last year, in 2020, US stock markets plunged into a bear market due to the surging COVID-19 cases and lockdowns in most of the countries to contain the fast-spreading deadly virus. ![]() He advised to not wait for the Goldmans and Morgan Stanleys to become bearish, as it can never happen. Jeremy Grantham forecasts that the longest this bubble might survive is the late spring or early summer, coinciding with the broad rollout of the COVID-19 vaccine. US student visa fees hiked by 15.5% – Check new rates, effective date
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