Stock market bubble is the 'Real McCoy' investor Jeremy Grantham says - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Renowned investor Jeremy Grantham told CNBC on Wednesday that the US stock market seems to be forming a 'Real McCoy' bubble that may end up hurting investors.

The investing legend is notable for calling out three previous market bubbles: Japan in 1989, the tech bubble in 2000, and the US housing crash in 2008.A stock market legend, Jeremy Grantham, seems certain that the US stock market's strong recovery from its historic lows in March will end up in pain for investors.

Grantham presented an alarming scenario in which uncontrolled day traders who are out of work and into heavy market speculation around bankrupt companies, including car-rental firm"It is a rally without precedence," he told CNBC's anchor Wilfred Frost, noting that the market rebound clashes with other harsh economic realities including a low point for health, unemployment numbers, and a rising growth of bankruptcies.

On investor exposure to US equities, Grantham said: "I think a good number now is zero and less than zero might not be a bad idea if you can stand that."

PeterNBell I'm sick of people being called 'legendary investor'. In 20 years we will see Dave Portnoy described this way for news article click bait.

Disclaimer. His opinion is based on tea leaves.

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