Disagreeing with Jeremy Grantham’s bubble call

Among other factors, indicators of extremes of euphoria seem much more important than price
Among other factors, indicators of extremes of euphoria seem much more important than price
Going parabolic and other lies
The S&P 500 appears to cross through the two standard deviation channel in mid-1996.
These charts tend to exaggerate recent prices and understate older prices. As the time period increases the distortions of the chart increase.
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