Taking Grantham Out of Context
What is the best proof that stocks are overpriced? (full disclosure: I think they are).
When market mavens like Jeremy Grantham put out cautionary if not scary analyses, and the instant headlines are drivel like, “Grantham Predicts Markets to Rise 20% – 30%.”
What Grantham really said is that — courtesy of the Federal Reserve — stocks are likely at nosebleed prices, but that they could very well go higher in the short run before correcting.
Or crashing, as the case may be.
See also, “Jeremy Grantham for Federal Reserve Chairman.“
