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Stock-market legend who called 3 financial bubbles says this is the "real McCoy' of bubbles
https://www.marketwatch.com/story/stock-market-legend-who-called-3-stock-market-bubbles-says-this-on ^ | June 17, 2020 at 7:45 p.m. ET | Mark DeCambre

Posted on 06/17/2020 5:32:41 PM PDT by wrrock

Jeremy Grantham: ‘My confidence is rising quite rapidly that this is, in fact, becoming the fourth, real McCoy, bubble of my investment career. The great bubbles can go on a long time and inflict a lot of pain but at least I think we know now that we’re in one. And the chutzpah involved in having a bubble at a time of massive economic and financial uncertainty is substantial.’

"A market that may be the most bubblicious he’s seen in his storied career."

"Grantham is worth paying attention to due to his prescient calls over the years. He said that stocks were overvalued in 2000 and again in 2007, anticipating those market downturns, the Wall Street Journal reports. Grantham also signaled that elements of the financial market had become unmoored from reality leading up to the 2008-09 financial crisis."

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Extended News
KEYWORDS: bigshort; brit; bs; bubbles; climatechange; daytrading; dow; fakenews; grantham; investment; jeremygrantham; markets; stockmarket; trading; treehugger
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To: wrrock

MarketWatch is the most pessimistic financial site there is. They CONSTANTLY forecast doom and gloom. And they consistently take shots at Trump.


41 posted on 06/17/2020 7:19:29 PM PDT by trublu
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To: wrrock

Grantham is a global warming loon. About 10 years ago his website said that the scientists disputing AGW were the same ones who the tobacco companies hired to dispute that cigarettes cause cancer.


42 posted on 06/17/2020 7:50:27 PM PDT by lasereye
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To: volunbeer

Remember it well! The “technologists” were enamored with the latest clip art for even more “impactful” slides.


43 posted on 06/17/2020 8:17:36 PM PDT by HonkyTonkMan
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To: wrrock

“Stock-market legend who called 3 financial bubbles says this is the “real McCoy’ of bubbles”

and if he calls the market the “real mccoy bubble of all bubbles” each and every month, eventually he’ll have correctly called his fourth bubble ...


44 posted on 06/17/2020 8:49:27 PM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: richardtavor

“I think one of three things will happen. It will go down or up, or stay the same -perhaps multiple times. I stand firmly behind my prediction.”

and given that your track record of predictions has been 100% correct, they ought to give you your own show on CNBC ...


45 posted on 06/17/2020 8:51:30 PM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Vermont Lt
"No sane investor believes that this market is priced accurately."

It's even worse than that! Large public pensions are now planning to borrow money to increase their holdings! (because they are underfunded!)

CalPERS' $80 Billion Leverage Plan?

Should be a good party until the music stops!


46 posted on 06/17/2020 9:40:43 PM PDT by Left2Right (Keep America Great!)
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To: VanDeKoik
I remember being told this was going to happen in June. I wonder how much of this stuff is based in real knowledge or some people on FR just really hoping for it just to prove some point.

I never said anything about June, but OK.

Are you aware that 100,000+ small businesses in the United States have gone under in the last 3 months?

Surely you know that the $600 a week Uncle Sugar check that millions of people have been taking (and that for many people was more money they were making than working) expires Jul 31.

You also have mostly likely heard the news that there will not be another few Trillion spent on more COVID debit cards, direct deposits, and checks sent out to every single living organism in the United States again (as millions of people were counting on and hoping for).

You also probably know that other perks of the COVID crisis, like the 0% interest period and administrative forbearance for student loans via the CARES Act is currently set to expire in September, but in August those millions of people are going to get letters saying it's time to pay up again.

Now add rental and mortgage deferment expiration (all across the nation) into the mix.

Look, I am not a magician, wizard, or self-proclaimed guru.

But all of that is a recipe for disaster.

Now, stir that with the fact that Democrat politicians are deliberately prolonging the COVID pain in order to destroy local and state economies so that it harms Trump's reelection chances.

You see?

47 posted on 06/18/2020 3:14:10 AM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: neverevergiveup
The stock market, like the economy, responds in large measure to intuition and emotion. It’s not what the numbers say. It’s what investors think the numbers say.

Valid point. It sure isn't the "science" label that deludes many.

48 posted on 06/18/2020 3:18:50 AM PDT by SkyPilot ("I am the way and the truth and the life. No one comes to the Father except through me." John 14:6)
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To: wrrock

So - does it say how many predictions he made that turned out to be wrong?


49 posted on 06/18/2020 3:20:21 AM PDT by trebb (Don't howl about illegal leeches, or Trump in general, while not donating to FR - it's hypocritical.)
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To: logitech

Does Beck have a bullion dealer as an advertiser?


50 posted on 06/18/2020 3:23:10 AM PDT by Fresh Wind (China kills over 400,000 and the sheeple sleep. Cops kill one person, and cities burn.)
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To: trebb

There is always that disclaimer on every investment one makes:
“Past performance is no guarantee of future results”
It aways amuses me when they say “This guy correctly predicted this or that and he is now saying. ....”
Doesn’t really amount to much.


51 posted on 06/18/2020 3:24:11 AM PDT by SmokingJoe
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To: SmokingJoe

Yep...the disclaimers are similar the the “This drug may help you or it may kill you, or just make you sick” “prospectus” warnings on medicines.


52 posted on 06/18/2020 4:19:24 AM PDT by trebb (Don't howl about illegal leeches, or Trump in general, while not donating to FR - it's hypocritical.)
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To: wrrock

My memory is that Grantham NEVER turned bullish after the 2008-09 bear market.


53 posted on 06/18/2020 4:40:14 AM PDT by LRoggy (Peter's Son's Business)
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To: Linda Tripp

Yes, I love quoting myself as well. I have an extremely captive audience, and only occasionally encounter disagreements with myself.


54 posted on 06/18/2020 5:35:56 AM PDT by richardtavor
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To: Left2Right

Don’t you wish you were on the short list of folks who get the phone call at 3PM telling you what will be bought or sold at 9:30 AM the next morning?

You KNOW Pelosi is on that list. As well as Newsome and most of the CA Congressional Delegation.


55 posted on 06/18/2020 6:46:10 AM PDT by Vermont Lt
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To: wrrock
This guy is well known. There's a doom article every day by one or more pundits. If they say doom often enough, eventually they're right.

For normal investors, it's simple. Buy depressed stuff where you know the value is potentially there. The real danger isn't over-valuation, but a new panic brought on by the left.

This guy is probably short and eagerly waits for the next salvo from the Left's anti-Trump cannon.

56 posted on 06/18/2020 12:03:48 PM PDT by Mase (Save me from the people who would save me from myself!)
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To: SkyPilot

I think that amount is closer to $900, as $600 a week was added by the Federal Government, alone.

That is over $22/hour to not work for three months!


57 posted on 06/19/2020 7:48:02 AM PDT by ConservativeMind (Trump: Befuddling Democrats, Republicans, and the Media for the benefit of the US and all mankind.)
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To: wrrock

Jeremy Grantham has successfully predicted 15 out of the last 3 market downturns.


58 posted on 06/19/2020 10:50:37 AM PDT by CurlyDave
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