Customer Quote by Jeremy Grantham
“There is a lot of pain still to be had in the equity markets, particularly aimed at the risky end of the spectrum. We think the fair value on the market is about a third lower in the U.S. . .”
About This Quote
Source Letter: Market outlook, 2023
Equity markets still face significant pain, especially at the riskier end; fair value may be roughly one‑third lower than current U.S. prices.
In simple terms: Markets are overvalued, especially risky stocks.
Key Takeaway
Adjust expectations and manage risk.
Themes
finance
valuation
risk
market cycles
Mood
cautious
analytical
Type
strategic
forecasting
When to use this quote
- investment planning
- portfolio rebalancing
- risk assessment
Key Concepts
equity markets
fair value
risk premium
Questions to Reflect On
- How will you protect your portfolio from potential declines?
- What signals indicate a market correction?
A Different Perspective
Overvaluation may persist; timing is uncertain.
