Vampires22 Jan 2022 22:57
'‘We are in what I think of as the vampire phase of the bull market,’ says GMO co-founder Jeremy Grantham‘We are in what I think of as the vampire phase of the bull market,’ says GMO co-founder Jeremy Grantham'
https://www.marketwatch.com/story/good-luck-well-all-need-it-u-s-market-approaches-end-of-superbubble-says-jeremy-grantham-11642723516
Nasdaq 100’s Unrelenting Declines Ring a Dot-Com Bust Alarm Bell
https://finance.yahoo.com/news/nasdaq-100-unrelenting-drops-ring-214018521.html
“We are in what I think of as the vampire phase of the bull market, where you throw everything you have at it,” Grantham wrote. “You stab it with COVID, you shoot it with the end of QE and the promise of higher rates, and you poison it with unexpected inflation – which has always killed P/E ratios before, but quite uniquely, not this time yet – and still the creature flies.”
That is “until, just as you’re beginning to think the thing is completely immortal, it finally, and perhaps a little anticlimactically, keels over and dies,” said Grantham. “The sooner the better for everyone.”