Non-us equities offer the best opportunities, says jeremy Grantham
The bear market in US equities could easily have a further seven years to run, according to GMO chairman Jeremy Grantham. He is advocating overweight positions in non- US equities ex-Japan believing they offer the best arbitrage opportunities. Within US equity markets, the S&P remains overvalued despite falls over the past three years, he added. Grantham, co-founder of global investment group GMO, said based on valuations, fair value for the S&P 500 is around 6,700 rather than the current 9,000 level. P/Es, now at around 22 times, will eventually revert back to a mean of around 14 ti...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes