Stock-market legend who called 3 bubbles says this one is the 'Real McCoy,' this is 'crazy stuff'

[marmar]

Stock-market legend who called 3 financial bubbles says this one is the ‘Real McCoy,’ this is ‘crazy stuff’

Published: June 18, 2020 at 3:44 p.m. ET
By Mark DeCambre

‘My confidence is rising quite rapidly that this is, in fact, becoming the fourth, real McCoy, bubble of my investment career. The great bubbles can go on a long time and inflict a lot of pain but at least I think we know now that we’re in one. And the chutzpah involved in having a bubble at a time of massive economic and financial uncertainty is substantial.’

(MarketWatch) That is Jeremy Grantham, co-founder and chief investment strategist at Boston-based money manager Grantham, Mayo, Van Otterloo & Co., offering up a stark warning to speculators driving the stock market to new heights amid the greatest pandemic of the past century.

“This is really the real McCoy, this is crazy stuff,” said Grantham during a Wednesday afternoon interview on CNBC that appeared to knock some of the stuffing out of a market that had been drifting along listlessly on Wednesday.

Gratham painted a very dire picture of the investment landscape in the U.S., suggesting that rampant trading by out-of-work investors and speculative fervor around bankrupt companies, including car-rental company Hertz Global Holdings Inc. HTZ, -10.00%, reflects a market that may be the most bubblicious he’s seen in his storied career. .............(more)

https://www.marketwatch.com/story/stock-market-legend-who-called-3-stock-market-bubbles-says-this-one-is-the-real-mccoy-this-is-crazy-stuff-2020-06-17?mod=home-page

[soothsayer]

1. Well it's propped up artificially so..

Duh?

[2naSalit]

2. +1

[captain queeg]

3. I'm expecting long and deep recession. It seems that would affect the stock market

But seems like stocks are in their own little bubble. I don’t have any stocks so I don’t pay attention, other than the US government propping it up which is criminal in my way of thinking.

[jimlup]

4. Shit- I was kinda hoping we were already past the worst but ...

A little voice told me to safe away some of my retirement money soon after the whole Covid thing happened. Thus I didn't get as much of the rebound as most did but I'm not sorry, I have a feeling we are in for a retest of the Covid lows...

The country is in the shitter, sick with diarrhea or worse, and, Wall Street is in deep optimistic denial.

[Grasswire2]

5. traders are suckers and marks

The market is a casino and it's juiced by a man who bankrupted his own casinos. Juiced with taxpayer money.