{"id":150233,"date":"2022-01-21T22:59:40","date_gmt":"2022-01-21T22:59:40","guid":{"rendered":"https:\/\/precoinnews.com\/?p=150233"},"modified":"2022-01-21T22:59:40","modified_gmt":"2022-01-21T22:59:40","slug":"el-erian-the-fed-missed-one-window-after-the-other","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/el-erian-the-fed-missed-one-window-after-the-other\/","title":{"rendered":"El-Erian: The Fed missed one window after the other"},"content":{"rendered":"
New York (CNN Business)<\/cite>Stocks are off to a tough start this year. The tech-heavy Nasdaq is already in a correction, a more than 10% drop. And if one the most influential hedge fund managers is to be believed, this could be only the beginning of a very painful time for investors. <\/p>\n Jeremy Grantham, co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO) said in a report called “Let the Wild Rumpus Begin” that stocks are now in the midst of a “superbubble,” that it won’t end well. “Good luck! We’ll all need it,” said Grantham, whose firm manages about $65 billion in assets. <\/p>\n He noted that US stocks have experienced two such “superbubbles” before: 1929, a market fall that led to the Great Depression, and again in 2000, when the dot-com bubble burst. He also said the US housing market was a “superbubble” in 2006 and that the 1989 Japanese stock and housing markets were both “superbubbles.”<\/p>\n
\nGrantham, who has been running the firm’s investments since it was started in 1977, was similarly bearish at market tops in 2000, and during the Great Financial Crisis of 2008.<\/p>\n<\/ul>\n
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