Jeremy Grantham: P/E Ratios Vs Economic Conditions “Most Impressive Mismatches in History”, Expects Thousands of Bankruptcies by the End of the Year..



Following GMO’s decision to take their first net short position since the financial crisis of 2008, Mr. Grantham today provided extra commentary on his bearish outlook in an interview on CNBC.

 “the market and the economy have never been more disconnected” and while “the current P/E on the U.S. market is in the top 10% of its history… the U.S. economy in contrast is in its worst 10%, perhaps even the worst 1%…. This is apparently one of the most impressive mismatches in history.” Read more

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