Bubbles, bubbles everywhere: Jeremy Grantham on the bust ahead
NEW YORK, July 20 (Reuters) – In this manic era of meme stocks, cryptocurrencies and real-estate bidding wars, studying the history of financial markets might seem a little dry and old-fashioned.
Except to Jeremy Grantham.
The chairman of the board of famed asset managers GMO is a certified bubble-ologist, fascinated by how and why bubbles emerge. Grantham studies classic ones like 1929, but – now in his eighties – he has also lived through (and called) numerous modern booms and busts, including the dot-com wreckage in 2000, the bull market peak in 2008 and the bear market low in 2009.
In case you did not know where this is headed: He says we are in a bubble right now.
In January Grantham wrote an investor…