US stocks are set to double or even triple their recent declines, Jeremy Grantham warned in a CNBC interview this month.
The market historian and GMO cofounder suggested the S&P 500 could plunge by 56% from its current level to about 1,900, while the tech-heavy Nasdaq could nosedive 74% to below 3,100.
Grantham has also sounded the alarm on the surging prices of housing, bonds, energy, metals, and food.
"We are really messing with all of the assets, and this has turned out, historically, to be very dangerous." he said.
The investor also raised the prospect of stagflation for the US economy, and cautioned the Federal Reserve might balk at shoring up asset prices given the risk of worsening inflation.