Grantham: US Market Most Expensive
Jeremy Grantham warns the US stock market is at its most expensive valuation in history, citing the Buffett Indicator and comparing it to the dot-com bubble peak
S. stock market is at its most expensive valuation in history, saying the Buffett Indicator stands at 235% of GDP, a level that rivals or exceeds the dot-com bubble peak. S. S.
economy. " Although the timing remains uncertain, this is not the first time Grantham has issued a warning. S. stocks looked "as poor as almost any other time in history," yet markets continued to advance.
A Classic Peak Signal Grantham flagged Space Exploration Technologies Corp. ‘s (NASDAQ: SPCX ) roughly $2 trillion valuation at its public-market debut as a sign of extreme market enthusiasm, comparing it to Amazon (NASDAQ: AMZN ), which fell 92% after the dot-com bubble before eventually dominating global e-commerce. “Is it going to have a crash like Amazon? Yes, very likely,” Grantham said, calling the IPO “one of the defining peaks of all time”.
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