Jeremy Grantham, an investor credited with predicting the 2000 and 2008 downturns, told CNBC on Thursday that investors should get inured to lackluster returns in the stock market for the next two decades, after a century of handsome gains.
Over the past five years, the S&P 500 index SPX, -0.70% has produced a compound annual growth rate of 8.1%, the Dow Jones Industrial Average DJIA, -0.51% has boasted a CAGR of 9.1%, while the Nasdaq Composite Index COMP, -0.62% has registered a compound return of 11.4% over the same period, according to FactSet data.
‘This is not incredibly painful, but it’s going to break a lot of hearts when we’re right.’ Jeremy Grantham Grantham, who has been predicting a meltdown in stocks since last year, said that not even the recent go-slow reversal by the Federal Reserve on rate increases and the European Central Bank’s decision to roll out a fresh batch of bank stimulus will push stocks significantly higher. “You can’t get blood out of a stone,” he told the network.
I’ve seen this article since 2016....
An imbecile could have predicted the crisis of 2008. He has no credibility over the next 20 years.
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Source: MarketWatch - 🏆 3. / 97 Read more »