Famed bubble caller Jeremy Grantham: Stocks can fall more

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Stock prices are down about 20% since famed investor Jeremy Grantham warned early this year that they were in a “super bubble.” But they can still drop more, says Grantham, who has correctly predicted several of the world’s biggest bubbles to burst, going back to Japanese stocks and real estate in the late 1980s. The co-founder of the GMO investment firm has been warning about potential excess in U.S. stocks since the summer of 2020, when Wall Street was roaring back from its coronavirus crash.