Posted 3/26/2024, 12:03:00 PM
Grantham Warns Stocks in Superbubble Fueled by AI Mania, Sees Death and Destruction Ahead
- Stocks are in a bubble bound to burst; S&P 500 trades in top 1% of historical price-to-earnings ratio range
- Current bull market conditions very different from typical ones signaling undervalued stocks
- Grantham predicts "death and destruction" when market superbubble bursts
- Believes ChatGPT launch threw off market crash prediction, igniting AI stock mania
- Finds bitcoin "perplexing" as it facilitates lawbreaking without creating value like stocks