10 views on the market from Jeremy Grantham
The unstoppable market
“Recent corporate announcements, while usually still claiming exceptional profit margins and generally hitting earnings targets, are increasingly missing revenue targets and issuing future revenue warnings,” Mr. Grantham writes. “We must admit, though, that recent revenue warnings have not stopped the market from rising, nor has the unexpectedly slightly negative growth for the fourth quarter GDP.
Source: GMO's 4Q letter