Markets Insider: The Epic Stock Rally Will End Badly, the AI Bubble Will Burst, And the Economy Will Sink, Warns Jeremy Grantham
Article by Theron Mohamed in Markets Insider
Jeremy Grantham says US stocks are massively overvalued and poised to tumble, the AI craze is a bubble that will pop, and the defiant American economy is headed for trouble.
The S&P 500 has surged 30% to record highs since the start of last year, but there has "never been a sustained bull market" with a backdrop like today's, Grantham told the Exchange conference in Miami this week.
Full employment and a Shiller price-to-earnings ratio of 33 — a figure in the top 2% of the measure's historical range — makes it a virtual certainty that stocks will .....