Why one famed investor is fretting about "superbubbles"
CBSN
One of Wall Street's most influential voices, the British investor Jeremy Grantham, sees an asteroid steaming toward global financial markets. His term for what he sees as a growing threat to U.S. investors: a "superbubble."
If an ordinary bubble involves an irrationally exuberant gain in the price of some asset, a superbubble is when the cost of several assets all head into orbit at the same time. And this time, well, it's going to be a doozy.
"[F}or the first time in the U.S. we have simultaneous bubbles across all major asset classes," Grantham, co-founder of wealth management firm GMO, said this week in an analysis.
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