What Jeremy Grantham is not telling you about a US stock market bubble

Recently, veteran fund manager Jeremy Grantham made headlines for suggesting US markets could be in a bubble. He wrote that we should brace ourselves for a possible near-term melt-up. And then Grantham detailed how much of a melt-up would be enough to confirm a bubble.

The interesting bit was his recommendation that investors rotate out of the US stocks. The market veteran says US stocks offer a poor relative value. Instead of US stocks, Grantham recommends investors increase their allocation...

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