Jeremy Grantham; Buy What He is Selling… [w/ edit]

The bubble is “intellectually exciting and terrifying at the same time”

[edit] Based on an email response I should clarify. All I am asking anyone to “buy” from Jeremy is his grounded view about bubbles, risk management and psychology based on his experience. 

I have my indicators by which I think I can view the coming of the end. I “think” I can. But that is far from a shoo in. I’d recommend you buy what Mr. Grantham is selling here. It will come in handy later on as you make your coin today.

Waiting for the Last Dance

But this bubble will burst in due time, no matter how hard the Fed tries to support it, with consequent damaging effects on the economy and on portfolios. Make no mistake – for the majority of investors today, this could very well be the most important event of your investing lives. Speaking as an old student and historian of markets, it is intellectually exciting and terrifying at the same time. It is a privilege to ride through a market like this one more time.

I remember at the dawn of 2009 it seemed like it was only me, my late pal Jonathan, Bob Prechter (of all people) and Mr. Grantham who were bullish. Sure there were others. But I could not find them.

Today it is opposite. I got flamed a bit this week by Bitcoin whiz kids on Twitter telling me how out of touch I am and how I am missing out. If you’ve been around long enough you know exactly what that is, young people who have not yet taken a rinse cycle. It applies to the Pot geniuses, the Cloud/SaaS geniuses and more recently certain outlier Commodity geniuses (e.g. REE, Lithium & Uranium).

I have participated in or am still participating in each of those items and more over the last year. Point being, any words of caution coming from old timers in the coming months should not, but will be, discounted by the herd.

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