Value investor Jeremy Grantham said U.S. technology stocks and the craze for blank-check companies have both already peaked and that the broader stock market is vulnerable, Bloomberg reports.
“My guess is in the next few months the termites will get to the rest of the market,” the 82-year-old co-founder of Boston-based GMO told a conference in Sydney via web-link. The Nasdaq and SPACs have likely peaked, he added.
Grantham is well-known for his bearish views and in January predicted an epic bubble in U.S. stocks would end with a crash. Equities later scaled new highs, adding to the perception that he’s a perma-bear who misses out on rallies. Read more.
