Jeremy Grantham: "I don’t think we’ll hit the low until 2010"

By on October 11, 2008

Jeremy Grantham, one of the very few to foresee the credit crisis before it unfolded, recently said that once a bubble has popped it always overcorrects. He doesn’t believe the market is cheap yet and could drop another 30% before we hit bottom.

A few months ago Mr. Grantham predicted that the S&P 500 would reach fair value of 1,100 in 2010 so it looks like it has already overcorrected by his own calculations.

Source:

http://money.cnn.com/2008/10/10/pf/minds_over_money.moneymag/?postversion=2008101005
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