One of the world’s most famous fund managers says Wall Street is a “super bubble” waiting to burst and a “terrible lust” for profits will bring investors undone.
Jeremy Grantham is the co-founder of GMO, which claims to have predicted the Japanese crash of 1989, the Dotcom bust of 2000 and the global financial crisis of 2008. He’s now warning of another similar crash in asset prices, with speculative tech stocks first in the firing line. Here is a direct video link.
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Cory’s Chart Corner
Humans just repeat the same old themes decade after decade. Today there is far more debt to service, thus greater financial impact on spending. Ask Walmart's CEO if he's noticed any change in consumer behavior while the U.S 10 years hits 5%.
Don’t forget in April of 2007 10 year hit 5.3% and by October of 2008 they were 2%.
