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Now, almost exactly 385 years and another pandemic later, Wall Street waits to see how long it will take for history to repeat itself. Shares of video game retailer GameStop Corp have soared 1,625% since the start of January. Driving the rally are individual investors who have been stuck at home for the last ten months. Many have turned to online forums like WallStreetBets on Reddit and are buying the stock, some as a form of protest against hedge fund managers who wagered that it would fall. These amateur investors are buoyed by savings built up over the coronavirus pandemic, two rounds of s...

Shares of video game retailer GameStop Corp have soared 1,625% since the start of January. Driving the rally are individual investors who have been stuck at home for the last ten months. Many have turned to online forums like WallStreetBets on Reddit and are buying the stock, some as a form of protest against hedge fund managers who wagered that it would fall. These amateur investors are buoyed by savings built up over the coronavirus pandemic, two rounds of stimulus payments and near zero interest rates. Some, such as billionaire entrepreneur Elon Musk, have referred to the phenomenon as �...

Stock-market legend sees few weeks of ‘putting your last, desperate chips into the game’—then pop MarketWatch 1/24/2021 KEY WORDS That is the latest from 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. In an interview with Bloomberg TV’s “Front Row,” the storied investor, who is often credited with several prescient market calls over the past two decades, insists that a st...

Waiting for the Last Dance The Hazards of Asset Allocation in a Late-stage Major Bubble By Jeremy Grantham Mr. Grantham co-founded GMO in 1977 and is a member of GMO’s Asset Allocation team, serving as the firm’s long-term investment strategist. He is a member of the GMO Board of Directors and has also served on the investment boards of several non-profit organizations. Prior to GMO’s founding, Mr. Grantham was co-founder of Batterymarch Financial Management in 1969 where he recommended commercial indexing in 1971, one of several claims to being first. He beg...

MacroBusiness Access Subscriber Only Content at 2:00 pm on January 8, 2021 | 16 comments Forget Bitcoin – the real bubble is in stocks. According to the latest missive from Jeremy Grantham as he warns how dangerous the rise in equity values around the world but especially on Wall Street, which he equates to as big or even bigger than the 1990’s tech led bubble :   The long, long bull market since 2009 has finally matured into a fully-fledged epic bubble. Featuring extreme overvaluation, explosive price increases, frenzied issuance, and hysterically speculative investor behavior, I believ...