Jeremy Grantham “..late stage major bubble”

[Soon]

Jeremy Grantham's latest post. A little refresher on valuations. When he announces a bubble, it's usually just a matter of time. He has a more than respectable track record. Enjoy reading.

https://www.gmo.com/europe/research-library/waiting-for-the-last-dance/

 

[Jerome]

Thank you soon

This article is really excellent. If it wasn't so long, you'd have to make a poster out of it to put up somewhere in your house. It sums up everything I think: the manipulation of the markets by the FED and its low interest rates over time, growth stocks vs. value investing, Tesla, the analogy with previous bubbles, the Buffet ratio, the PE Schiller ratio, COVID, etc. Everything is said and perfectly said.

The author is betting on emerging countries and value, as well as avoiding US growth stocks. I feel well positioned and I think many here are too. I hope that we will finally have a real return to the forefront of value stocks soon. The circus of mediocrity has gone on long enough.

[Soon]

Jerome,

I "rebalanced" it in your last post because I have the impression that he is too alone at the bar. You will tell me normal in times of confinement, the bar is closed! it is too worth reading this one.

Have a nice weekend

[Jerome]

You did well. I had also read your other article but did not have time to answer it, sorry.

[Author]

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