Hacker News Reader

This guy is the financial equivalent of the old world street preacher wearing an "end of the world is nigh" placard. Grantham has been saying the same thing every year for as long as I've had interest in markets. He's considered a joke by the vast majority of the educated financial world

View on HN

The S&P 500 PE ratio is currently 25.78 while the mean is 15.96. The Fed printed 1/3 of all dollars in circulation in the past 22 months. The velocity of money in the U.S. is at a historical low. How are these facts irrelevant to Grantham's argument?

See https://www.multpl.com/s-p-500-pe-ratio

Grantham has been predicting crashes for 10 years, so I'd say nothing in the last 22 months is relevant to his take.

This just isn't true. He's got a respected name in the financial world, had made huge money over a long career, and has real skin in the game. Bloomberg doesn't give any random person an hour long special segment.

Yes he has called for a drop for a long time and been wrong. When talking about big structural macro themes, it's not that weird to be 10 years early on something and to be wrong for that period.

Reply on news.ycombinator.com