Jeremy Grantham
speaker
906 appearances
3 recordings
2 series
first heard Jun 2026
last heard 30 Jul
Jeremy Grantham’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jun 2026 with 2.
Appearances
I had people counting.
And I said, I've got two questions for you.
One, if the market, which is currently 31 times earnings, was to go back to a more normal 17 times, would it guarantee a major bear market if it happens any time in the next 10 years?
Yes.
If it went from what was then 31 times
Earnings.
Every dollar of earnings sold for 31 times in the market.
And the more normal average was close to 15, 16, 17.
And I use 17.
If it went down to 17, any time in the next 10 years, would it guarantee a major bear market?
All 400 of them said, yes, it would.
If it happened, it would guarantee a major bear market.
And then the second question, of course, was, and do you think it will happen?
and less than 1% thought it would not happen.
99% plus thought the market would go down, therefore guaranteeing a major bear market.
And this was the engine room of all the Goldman Sachs and the Morgan Stanley's and the JP Morgan's, all the great investment firms giving advice in America.
The engine room who worked for them, the guys doing the analysis, doing the work,
all believed in data that guaranteed a major bear market, which happened.
But the people who employed them or represented them from a marketing point of view were on the podium with me saying, oh, Jeremy, Jeremy, don't get excited.
We'll muddle through quite nicely.
Showing 221–240 of 906 · page 12 of 46
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