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"Real estate is overpriced everywhere in the world.
It’s the most overpriced market," he said. Grantham, who has repeatedly warned investors are caught in a historic bubble, said an imminent crash in the S&P 500 means a credit crisis is brewing. They always do better in a serious shake-up." "If you have to own some, I would own high-quality. "Secondly, I would try and avoid US stocks," Grantham said. The market historian has previously said he holds cash so he can deploy it easily, and a small amount of gold and silver. "There may be some great buying opportunities in the next couple of years." "What I would do is make sure you have some cash reserve," he said. The veteran investor and GMO cofounder explained in a Saturday interview with Fox Business how investors should position their portfolios against a backdrop of historic market speculation." Jeremy Grantham recently diagnosed the fourth US "superbubble" in the past century, and warned the benchmark S&P 500 would crash 43% to around 2,500 after the bubble bursts. He recommends overseas stocks and cash as havens. Legendary investor Jeremy Grantham sees a ‘superbubble’ in markets and expects the S&P 500 to crash 43%. unemployment rate, meanwhile, ticked down to 3.6% last month, which is just 0.1% higher than the 50-year record low unemployment rate that occurred before the pandemic.ĭeutsche is one of the first major banks to sound the recession alarm. In this case, it’s going to be unavoidable, the economists said in a note published Tuesday. IMPACT ON YOUR WALLET: How Fed’s first rate hike in more than 3 years will affect credit card, mortgage, savings ratesĢ022 RECESSION?:The odds are rising amid soaring inflation, high energy prices By taking such action, the Fed hopes to slow down the economy without causing a recession. When the Fed raises rates, it becomes more expensive to borrow money since interest rates on mortgages, credit cards and other loans increase in tandem. That’s in line with the Fed’s thinking, according to minutes from the latest meeting. With inflation at a 40-year high, they predict the Fed will raise interest rates by half a percentage point during the next three meetings in May, June and July. is brewing as the Federal Reserve is taking a more aggressive stance on raising interest rates to clamp down on inflation, according to economists at Deutsche Bank. headed for a recession? This Wall Street bank thinks soĪ recession in the U.S.