[wrrock]

Today markets close mostly in red. Hertz up over 2% on Investor enthusiasm on news that stock is worthless.

[proxy_user]

The average stock is no where near bubble territory, about 15-20 times trailing earnings - about what you would expect in a low-interest environment.

[Kenny Bania]

This guy’s probably got shorts out all over the place and is looking for suckers to bail him out. And MarketWatch, which has been deliberately trying to crash the economy since Trump got elected, is all too willing to oblige.

[rightwingcrazy]

“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.”

He’s really putting himself out on the limb with that prediction. I’ll go farther: the market will go down after first going up, or the other way around. Eventually, and probably sooner than most people think, one of those downswings is going to be huge. Boom! Bursted bubble. My track record has been 100% in predictions like this.

[logitech]

Well, Glenn Beck says buy gold. So there’s that.

[Brown Deer]

Legend Jeremy Grantham Bullish On Coronavirus Recovery
March 16, 2020

Grantham Mayo & van Otterloo (GMO) is bullish when it comes to the future of the global economy. In two separate interviews in the past week, co-founder Jeremy Grantham and head of asset allocation Ben Inker both remained positive as they discussed the future.

Are you aware of Jane Fonda’s protests against climate change? She’s been arrested several times.

Yes. Magnificent. She’s a fairly recent recruit. But where was I at age 55 [now 81]? I knew nothing and did nothing [about climate change]. There were people out there, like Prince Charles who 35 years ago moved to regenerative farming and talked a good game on climate change.

[SecondAmendment]

He is right, bubbles historically collapse whenever an incumbent Republican President runs for re-election...

[HonkyTonkMan]

Never heard of this “legend” and don’t give damn about his “confidence.”Apparently he predicted the tech bubble in the 90’s......along with everyone who figured out powerpoint and access databases were not a viable business plan.

[Brown Deer]

Grantham is worth paying attention to due to his prescient calls over the years.

"Mr. Grantham's study of bubbles suggests that it takes them about as long to deflate as it did to inflate.... He says the Standard & Poor's 500-stock index could fall more than an additional 20% from its current level." ~~ E.S. Browning, "A Party So Wild, the Cleanup Goes On," The Wall Street Journal, March 3, 2003.

April 2003 through July 2008 = +65%. Only one month in the following year was even negative and only a 1% loss at that.

[Raycpa]

Calling 3 flips of a coin in a row doesn’t change your odds of being right the fourth time.

[Kriggerel]

“...the most bubblicious he’s seen in his storied career.”

“Bubblicious”? Seriously?

Yeah, stopped reading right there.

[SkyPilot]

Right now, millions upon millions of people are living off their 600 bucks a week unemployment and their Covid stimulus checks/debit cards. Millions of people have also benefited from differing their student loan payments, deferring mortgage payments, and enjoying the benefits of not being evicted for failing to pay their rent. Very soon, all of those protections will come to a sudden end. By the beginning of August, you are going to see a lot of desperate people. On top of this, Democrat mayors, governors, senators, and congress persons are determined to keep spreading the economic misery far and wide.

On the other end of the spectrum, we have the markets. The markets are not bounded by economic reality. They are a monster child of the Fed.

Things may get very “interesting“ very rapidly.

[Brown Deer]

GMO Is Feeling Pain Reminiscent of the Late 1990s
October 10, 2019

“It seemed as if every single thing that could go wrong for us from an investment standpoint did,” Ben Inker, GMO’s head of asset allocation, said in the firm’s third-quarter letter to clients. “The recent cycle has gone on for significantly longer and the pain caused to our portfolios has begun to approach 1990s levels.”

The losses GMO suffered during the extreme disparities in stock valuations before the internet bubble burst made it hard to convince clients that its prospective returns “were actually very good,” according to Inker. The firm, founded by Jeremy Grantham, is again seeking to persuade impatient clients that holding tight will similarly pay off.

This time around, the firm’s underperformance versus benchmarks has been 20 percent to 25 percent less than in the late 1990s, he wrote. But the duration has been “particularly painful.”

[Danette]

I have been watching this guy for two months. He has been right EVERY FREAKIN DAY. I do not know how he does it. Sign up for his newsletter so you get emails from him. He does at least one video a day.
He is entertaining as well. You pay nothing. You just get daily advice.
https://youtu.be/anCPgDJSMLg

[plain talk]

From wikipedia:

“Grantham has repeatedly stated his opinion that the rising cost of energy – the most fundamental commodity – between 2002 and 2008 has falsely inflated economic growth and GDP figures worldwide and that we have been in a “carbon bubble” for approximately the last 250 years in which energy was very cheap.

He believes that this bubble is coming to an end. He has stated his opposition to the Keystone Pipeline on the basis of the ruinous environmental consequences that its construction will bring to Alberta and to the entire planet due to the contribution that burning the extracted oil would make to climate change.

In August 2019, he dedicated 98% (on average $1 billion) of his personal wealth to fight climate change.”

Any questions?

[familyop]

Probably a lefty writer there. Markets aren’t high enough for a bubble, and letting a crash happen before the election would be a very foolish business move for investors or businesses.

[MSF BU]

Some words from a much brighter bulb:

https://www.youtube.com/watch?v=NkGrbVoRHqk

[FrdmLvr]

He correctly predicted 3 financial bubbles but how many did he incorrectly predict and no one noticed?

[Sgt_Schultze]

This doesn’t explain a bubble, but it may explain some of the instability - LINK

More insanity - HERE

[aquila48]

What other predictions has he made, and how good were they? Every bear or bull is eventually right.

[nicollo]

He said that stocks were overvalued in 2000 and again in 2007, anticipating those market downturns, the Wall Street Journal reports

Yeah, no shit. Everyone knew that. Who timed it, who acted on it, and who came back in at the right time?