Legendary investor Jeremy Grantham says US stocks are in a crazier bubble than in 1929

MarketsInsider/Harry Robertson

Repost from 10-1-2021

“Yet Grantham told CNBC on Tuesday that the end of a stock-market bubble is ‘like killing off a vampire.’ He said markets were so confident that they just shrug off any bad news. However, Grantham said that can’t last forever and he expects sharp falls in the coming months.”

USAGOLD note: As this article and Grantham himself point out, the market just shrugs off any bad news and keeps going higher – up 40% since Grantham first warned of a crash in June 2020. While the music is playing, investors dance. Stop the music, and the mad dash for the exits begins. We remind, again, that following the crash of 1929, the stock market did not revisit its highs of that year until 1955 – 26 years later.

line chart showing the stock market crash 1929 and regaining its previous high 26 years later
Chart courtesy of Macrotrends.net

 

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