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Home»Crypto News Flash»Prominent investor: S&P 500 expected to plunge about 45% from current levels

Prominent investor: S&P 500 expected to plunge about 45% from current levels

January 21, 20220 Views
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Jeremy Grantham, co-founder and chief investment strategist at asset management firms Grantham, Mayo and van Otterloo, released a report outlining his reasons for the massively overvalued stock market.

Grantham said in the report that the United States has entered a “bubble feast” involving real estate, bonds and commodities, as well as stocks. He compares the current situation to Japan in the 1980s, when stocks and real estate markets were grossly overvalued. “When pessimism returns to the market, we’re going to face the biggest drawdown in underlying wealth in U.S. history,” Grantham said, adding that the S&P 500 could at least fall back to its trendline, around 2,500, a plunge of about 45% from current levels . He cites “crazy investor behavior” such as meme stocks, cryptocurrencies and EV company valuations as examples to make his point, also pointing to the fact that speculative stocks have fallen sharply from last year’s highs.

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