| author | jeremy grantham |
| prediction | So by analogy to the normal Presidential Cycle effect, driven by stimulus and moral hazard, we are likely to have a remarkable stock rally, far in excess of anything justified by either long-term or short-term economic fundamentals. My guess is that the S&P 500 is quite likely to run for a while, way beyond fair value (880 on our revised data), to the 1000-1100 level or so before the end of the year. |
| status | open |
| URL | http://www.gmo.com/websitecontent/JGLetter_1Q09.pdf |
| category | finance |
| made | 7.3.2009 |
| expires | -7 months |
| posted By | Sirmont |