Jeremy Grantham Sees the S&P 500 Between 1,000 and 1,100 By Year-end

By on May 9, 2009

Jeremy Grantham published his latest commentary and made some interesting observations including a view that this bear market may not reach the same levels of undervaluation as previous bad bears. The main reason for this would be the low level of interest rates and tame inflation pressures. Grantham believes there is a 50/50 chance that the market has made its bottom.

SMA comment: With all due respect to Mr. Grantham, there is always the risk that rates will rise given the massive amount of government spending propping up the financial system.


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