Video interview with Jeremy Grantham
This post features a television exclusive, with Consuelo Mack of Wealthtrack interviewing Jeremy Grantham on what he sees ahead on the financial horizon.
Grantham, chairman of Boston-based GMO, has been a perennial bear and his warnings about a financial disaster go back a number of years, but he recently turned guardedly bullish. In his October newsletter he said: “At under 1,000 on the S&P 500, US stocks are very reasonable buys for brave value investors willing to be early.
“We are reconciled to buying too soon, but we recognize that our fair value estimate of 975 on the S&P 500 is, from a historical precedent, likely to overrun on the downside by 20% to 40%, giving a range of 585 to 780 on the S&P as a probable low.”
This is Grantham’s first-ever television interview and must-see viewing material.
Source: Wealthtrack, November 21, 2008.
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