Bubble expert Grantham addresses 'epic' stock euphoria

Jeremy Grantham, market historian and co-founder of the Boston investment firm GMO, debates economic momentum and stock market crashes with Bloomberg Opinion's John Authers. His remarks have been edited and condensed.
BY KRITI GUPTA/ BLOOMBERG

It's been just over a year since the last stock market crash, and investors are wondering if another one is on the way. With economic momentum slowing as the effects of fiscal stimulus wear off, it's no surprise that equities seem to be fading, too. Meanwhile, labor shortages and stretched supply chains remain lingering issues, while inflation is starting to be passed on to consumers. It seems like this should be a risk-off environment. But retail traders appear to be the only investors having a good time. Does that mean we're in a bubble and due for a pop?

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