Famed Investor Jeremy Grantham Warns S&P 500 Could Drop Another 26 Percent by 2023
Veteran investor co-founder of Boston asset manager GMO, Jeremy Grantham, predicted that the S&P 500 could plummet by another 26 percent by 2023, while speaking at the Reuters Global Markets Forum on Sept. 8.
His comments following months of turbulence on Wall Street this year amid a series of challenges and signs that the United States is already in a silent recession.
He said at the Reuters forum that the S&P benchmark index could drop 1,000 points to around 3,000 points over the next 12 months, after declining about 15 percent this year.
A fall of that size would represent a 38 percent decline in the value of the S&P 500 from its peak in December 2021….