Jeremy Grantham Encourages Terrified Investors to Wade into Equities
Jeremy Grantham thinks its possible the S&P 500 will plunge below 600 before rebounding, however, he believes investments made now will generate good returns over the next 7 years. Grantham estimates fair value for the S&P 500 is currently 900 and figures that current prices for global equities are discounted even further. Grantham writes, “Typically, those with a lot of cash will miss a very large chunk of the market recovery.”
Source:
http://www.gmo.com/websitecontent/JG_ReinvestingWhenTerrified.pdf
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