Legendary investor Jeremy Grantham says both stocks and crypto are in bubbles worse than in 2000 - and warns a 'bust' could be looming in mere months amid virus and inflation pressures
Jeremy Granthamsaid the stock and the cryptocurrency marketsare in bubbles worse than in 2000.
- "A bust might take a few more months, and, in fact, I hope it does, because it will give us the opportunity to warn more people," he told Reuters.
- Grantham said the bubble could be burst by either coronavirus or
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He said that his favorite metric for deciding whether
Grantham, co-founder of investment firm Grantham, Mayo, van Otterloo & Co., has witnessed numerous boom-bust cycles. He is well known for calling for a burst of the 1989 Japanese asset-price bubble, the 2000 tech bubble, and the 2008 real-estate bubble.The renowned investor said markets may be content now, but issues including interest rates, inflation, labor, and commodity prices are looming on the horizon. "A bust might take a few more months, and, in fact, I hope it does, because it will give us the opportunity to warn more people," he told Reuters. "The probabilities are that this will go into the fall: The stimulus, the economic recovery, and vaccinations have all allowed this thing to go on a few months longer than I would have initially guessed."
He continued: "What pricks the bubble could be a
A bust, he said, will cause an "enormous negative wealth effect" simply because bubbles have formed in so many areas, including interest rates, stocks, housing, and non-energy commodities."But this bubble is the real thing, and everyone can see it. It's as obvious as the nose on your face," he concluded.
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