One of Wall Street’s most famous investors, who has accurately characterized other recent financial crashes, says the markets are in the midst of a “super bubble” that could burst at any moment and thinks stocks will drop 50 percent. He also conveys his thoughts on Dogecoin and cryptocurrencies. cryptocoin.com We are giving the details as…
Jeremy Grantham shared his comments on Dogecoin and markets
As examples of out-of-control speculation feeding the bubble, Jeremy Grantham, the 83-year-old founder of Boston-based money manager Grantham Mayo van Otterloo; It marks a rapid rise in “parody” cryptocurrencies like Dogecoin and massive gains in “meme” stocks like AMC and GameStop. “Nobody wants to hear about the bearish situation in a bubble,” he said in a letter to investors on Thursday. Still, he claims the world is on a path of collapse similar to those seen in the Great Depression of 1929, the 2000 dot-com bubble, and the 2008 financial crisis.
Grantham, arguing that the S&P 500 index, which consists of the largest stocks in the USA, may fall by about 45 percent from its current levels, said, “Today we are in the fourth super bubble of the last hundred years in the USA.” According to Grantham, the fact that markets are currently in the final stages of the super-bubble process makes them vulnerable to a sharp drop at any moment. Jeremy Grantham has predicted other financial crises, such as the 2008 crash.
He also blames “mad investor behavior”, which includes meme stocks, a fascination with cryptocurrencies, and the rise in popularity of new technologies like NFT. Jeremy Grantham argues that the rise of a crypto that was originally a parody like Dogecoin is just one example of how deep a “super-bubble” the market has found itself. Grantham uses the following expressions:
For a super balloon going through its stages, this checklist is now complete and wild chaos can begin at any moment. As pessimism returns to the markets, we face the largest potential collapse in perceived wealth in US history.
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