Steven Bartlett with Jeremy Grantham
A veteran investor argues that today’s financial excesses, widening inequality, and rising chemical exposure are converging into a serious economic and demographic problem.
Speculative bubbles often form around genuinely transformative ideas, such as railroads, the internet, and now artificial intelligence, leading to heavy overinvestment followed by painful market corrections.
Wall Street investment firms have strong business incentives to remain optimistic and are unlikely to advise clients to leave overpriced markets because the career risk of doing so is too high during a bull run.
Individual investors should protect themselves by diversifying into non-US equities, government bonds, cash, and precious metals rather than concentrating in expensive US technology stocks.