Grantham is always good for a laugh.
this from 4/5/2023, said SPX 3000 was the best we could hope for.
We're at SPX 5,111.
‘The best we can hope for is that this market bottoms at about 3,000 … and the worst we should fear is more like 2,000.’
With the S&P 500 currently hovering around 4,000, it is safe to say that Jeremy Grantham believes there is much more pain to come for equity investors.
The GMO founder and long-term investment strategist told Citywire that the Q1 rebound was cyclical – the result of the ‘January rule’ and the ‘presidential cycle’ – but that he believed the selloff in US stocks would resume, with the S&P likely to fall by another 25% at best, and at worst another 50%, from current levels.