Super-bear Jeremy Grantham had something positive to say for once. Well actually it’s only a friend of Jeremy Grantham, oh well. But it IS positive — sort of.
“The good news, provided you are by now heavily liquid, is that there are many shares priced for a degree of economic collapse that even I do not expect.”
–Jeremy Grantham, WSJ: What to Do in a Stock Selloff, 11 Jul 2008