Grantham Flags End to Bull Run

The ‘pessimism termites’ are gnawing but there are still opportunities at the intersection of emerging markets and value.

Lee Davidson 10 June, 2021 | 8:00
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Aus MIC

Sharp declines among SPACs and electric vehicle stocks may herald a broader asset market correction, legendary investor Jeremy Grantham told the Morningstar Investment Conference in Australia last week. 

The long-time bear, and co-founder of GMO Asset Management, used the dotcom bubble as an illustration of how markets tend to deflate in stages as what he sees as “pessimism termites” spread.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Bayer AG48.32 EUR0.27Rating
Exxon Mobil Corp63.12 USD0.69Rating
Tesla Inc909.68 USD1.75Rating

About Author

Lee Davidson  Lee Davidson is an ETF analyst with Morningstar Europe.

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