Grantham Flags End to Bull Run

The ‘pessimism termites’ are gnawing but there are still opportunities at the intersection of emerging markets and value.

Lee Davidson 7 June, 2021 | 2:25AM
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Aus MIC

Sharp declines among SPACs and electric vehicle stocks may herald a broader asset market correction, legendary investor Jeremy Grantham told the Morningstar Investment Conference in Australia last week. 

The long-time bear, and co-founder of GMO Asset Management, used the dotcom bubble as an illustration of how markets tend to deflate in stages as what he sees as “pessimism termites” spread.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Bayer AG45.21 EUR-0.94Rating
Exxon Mobil Corp55.16 USD-1.18Rating
Tesla Inc759.49 USD0.33Rating

About Author

Lee Davidson  is an ETF analyst with Morningstar Europe.

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