Co-founder and long-term investment strategist of GMO; investor known for calling market bubbles
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“we will have a recession running perhaps deep into next year and an accompanying decline in stock prices”EconomyMarkets
“the higher you go, the longer and greater the pain you will have to endure to get back to trend – in the current case to a trend value of about 2500 on the S&P 500, adjusted for the passage of time, from whatever high point the market might reach (currently at nearly 4700).”Markets
“But this bubble will burst in due time, no matter how hard the Fed tries to support it, with consequent damaging effects on the economy and on portfolios.”MarketsEconomy
“Its substantial oil and gas reserves look likely to prove unexpectedly resilient, buoyed by improving skills at fracking and lateral drilling.”Energy
“we now live in a different, more constrained, world in which prices of raw materials will rise and shortages will be common.”EconomyMarkets
“To be honest, I believe that most of you readers are likely to be grandparents before you see a new inflation-adjusted high on the S&P.”Markets
“I expect that, at least for the seven lean years and perhaps longer, the developed world will have to settle for about 2 percent real GDP growth (perhaps 2.25 percent) down from the 3.5 percent to which we used to aspire in the last 30 years.”Economy
“The current stimulus is so extensive globally that surely it will kick up the economies of at least some of the larger countries, including the US and China, by late this year or early next year. (This seems about 80 percent probable to me, anyway.)”Economy
“My guess is that the S&P 500 is quite likely to run for a while, way beyond fair value (880 on our revised data), to the 1000-1100 level or so before the end of the year.”Markets