Jeremy Grantham varnar för Crash
The city of Doncaster, South Yorkshire, is a long way from the gleaming skyscrapers of Boston, Massachusetts, but they are both places that the British stock picker Jeremy Grantham calls home.
Grantham, 86, is one Britain’s most successful investors, having made his name on Wall Street in the 1960s at GMO, the Boston-based $63bn money manager, which still bears his name.
He represents the G.
As an investor he predicted the dotcom bust and has been likened to “the skunk at the garden party” for his grumpy pessimism when the stock markets are riding.
But ever since US markets cratered last week, Grantham has been transformed from a doomster into a Cassandra figure whose warnings should have been heeded.
He claims to have studied 300 historical financial bubbles throughout history, including England’s canal building and railway construction busts during the Industrial Revolution,
and now his long-standing predictions that the AI bubble will pop appears to be bearing fruit.
For months, Grantham had been raising the alarm over the sky-high share prices of the “magnificent seven” – Google, Meta, Tesla, Nvidia, Apple, Microsoft and Amazon – as well as the overvaluation of US stocks more generally.
During the period when he was calling for restraint, shares in AI-linked companies continued to surge, leaving him an increasingly isolated figure in the financial world.
Despite his bearish stance, one thing Grantham consistently failed to pinpoint was the trigger for the stock market slump.
Michael Bow Chief City Corresponden Telegraph 17 March 2025
The British investor who predicted the US stock slump – and the next crash he sees coming
Grantham har varnat förr.
https://englundmacro.blogspot.com/search?q=Grantham+
What Triggered the Crash?
When the time comes to ask the question – “What triggered the crash?” – remember that this is the least important question.
A market crash requires nothing more than a shift in investor psychology from careless speculation to even modest risk-aversion.
The important question to ask is “What drove the bubble?”
That’s where the lessons are.
John P. Hussman
https://englundmacro.blogspot.com/2021/07/what-triggered-crash-hussman-funds.html
Tillbaka till Rolfs länktips 17 mars 2025
https://englundmacro.blogspot.com/2025/03/rolfs-lanktips-17-mars-2025.html
Kommentarer