GMO On Manias

Well worth recording, from Jeremy Grantham’s GMO: The Eight Characteristics Of Stock Market Manias

  1. This-time-is-different mentality.
  2. Moral hazard.
  3. Easy money.
  4. Overblown growth stories.
  5. No valuation anchor.
  6. Conspicuous consumption.
  7. Ponzi finance.
  8. Irrational exuberance.

Check, Yup, we’ve got them all.

Both comments and trackbacks are currently closed.
%d bloggers like this: