Jeremy Grantham, "We are in for seven lean years"
Jeremy Grantham recognized the bubble a couple of years ago, “everywhere, in everything.” He was right then and accurately called the bottom of the market in March. Grantham now sees the current rally continuing longer than most expect, but it won’t usher in a new secular bull market. He figures the fundamentals of the economy remain, “lousy.” The few good values in the market are now focused in the quality big-name companies with global reach, some emerging markets and commodities.
Although Grantham has appeared to play the market like a fiddle the last few years, CXO Advisory states, “Jeremy Grantham has a track record for predicting U.S. stock market behavior that is about average.”
A couple of weeks ago CXO had rated Grantham below average so the past year appears to have improved his prediction track record in their eyes.