Jeremy Grantham: We haven’t seen the euphoria yet

GMP’s Jeremy Grantham is the man. His latest remarks at WSJ on where we are in the fear / greed cycle are most interesting.

“It doesn’t have the characteristics of a bubble. A simple way of defining a bubble is that it has to have nearly perfect fundamentals which have to be irrationally extrapolated with considerable euphoria. Remember the style from 2000, Japan in ‘89, or the US housing market (house prices will never decline), or 1929 in the old days was a classic. We have none of that euphoria. We also have very imperfect fundamentals.”

“It’s only the other day that people were lining up to commit 10, 20, 30 year money for a guaranteed no real return. This is not a real prescription of mad desire to invest in the stock market.”

“Getting back to your question about whether this time is different. Value managers always say this time is never different. But it is fair to say that this time, it is decently different.”

Watch it here:

Source:

GMO’s Grantham: Stocks ‘decently different this time’ (Wall Street Journal)

What's been said:

Discussions found on the web
  1. Bitcoin Era Review commented on Sep 22

    … [Trackback]

    […] Find More here on that Topic: thereformedbroker.com/2017/04/05/jeremy-grantham-we-havent-seen-the-euphoria-yet/ […]

  2. retro sweets commented on Sep 29

    … [Trackback]

    […] There you will find 75657 more Info on that Topic: thereformedbroker.com/2017/04/05/jeremy-grantham-we-havent-seen-the-euphoria-yet/ […]

  3. Intelligent Automation commented on Nov 14

    … [Trackback]

    […] Read More on to that Topic: thereformedbroker.com/2017/04/05/jeremy-grantham-we-havent-seen-the-euphoria-yet/ […]

  4. 토렌트사이트 commented on Dec 19

    … [Trackback]

    […] Read More on that Topic: thereformedbroker.com/2017/04/05/jeremy-grantham-we-havent-seen-the-euphoria-yet/ […]

  5. 온라인카지노 commented on Dec 28

    … [Trackback]

    […] Read More to that Topic: thereformedbroker.com/2017/04/05/jeremy-grantham-we-havent-seen-the-euphoria-yet/ […]

  6. exact replica watches commented on Jan 14

    … [Trackback]

    […] Find More to that Topic: thereformedbroker.com/2017/04/05/jeremy-grantham-we-havent-seen-the-euphoria-yet/ […]

  7. digital transformation services commented on Jan 15

    … [Trackback]

    […] Read More Information here to that Topic: thereformedbroker.com/2017/04/05/jeremy-grantham-we-havent-seen-the-euphoria-yet/ […]

  8. lace front wigs commented on Jan 22

    … [Trackback]

    […] Here you can find 16911 additional Info on that Topic: thereformedbroker.com/2017/04/05/jeremy-grantham-we-havent-seen-the-euphoria-yet/ […]

  9. Unicc commented on Jan 29

    … [Trackback]

    […] Info to that Topic: thereformedbroker.com/2017/04/05/jeremy-grantham-we-havent-seen-the-euphoria-yet/ […]