I really like reading Jeremy Grantham. He is funny, smart, a good writer and a value guy, which are all admirable qualities in my book.
I enjoyed this recent article about the presence or absence of a bubble in the current stock market:
http://news.morningstar.com/articlenet/SubmissionsArticle.aspx?submissionid=194174.xmlWhat I took from it was that According to Grantham
1. We are not in a Bubble.... yet.
2. His read on the economy is that a bubble starts at a S&P level of 2250
3. A bubble is coming for a variety of reasons, (deal making, cheap debt, and high profit margins among them)
4. (There were also some nice bits about his investing errors as a young man and the merits of the Keystone XL Pipeline from a strictly Economic perspective.)
And how reading this article has changed my investment plans...
1. Not at all. Prediction is a suckers play. (Just ask Larry Swedroe about the incredibly smart (not being ironic) Grantham's ability to exploit market inefficiencies
http://www.etf.com/sections/index-investor-corner/22696-swedroe-debunking-granthams-concerns.htmlEnjoy