Waiting for the last dance
“But this bubble will burst in due time, no matter how hard the Fed tries to support it, with consequent damaging effects on the economy and on portfolios. Make no mistake – for the majority of investors today, this could very well be the most important event of your investing lives. Speaking as an old student and historian of markets, it is intellectually exciting and terrifying at the same time. It is a privilege to ride through a market like this one more time.”
USAGOLD note: Grantham doesn’t pull any punches in this assessment. “I believe this event,” he warns, “will be recorded as one of the great bubbles of financial history, right along with the South Sea bubble, 1929, and 2000.” Grantham has a strong record of predicting the deflation of market bubbles.
Repost from 1-7-2020