Taps Coogan – July 4th, 2023

Jeremy Grantham, Co-Founder of the global investment management firm GMO, recently spoke with Wealthtrack’s Consuelo Mack about his outlook for markets.

While known for his bearish calls, including forecasting the 2008 and 2000 crashes as well as the bear market last year, Mr. Grantham is far from a perma-bear and has made many correct bullish calls throughout his career. This is not one of those times as he is sticking to his bearish outlook, calling this year’s rally a bear market rally. Nonetheless, he acknowledges that his certainty about a further decline is weakening due to the unpredictability of the AI ‘bubble’ and the potential for productivity improvements from AI.

The wide ranging discussion, which includes some debatable tangents into this like climate change, can be enjoyed above.