GMO Tracks 36 Bubbles...And 33 Have Completely Popped

Jeremy Grantham, the 74-year-old chief investment strategist of Boston-based investment fund Grantham Mayo van Otterloo (GMO), has made his career forecasting market bubbles—with remarkable success. When writing an article on the slowing pace of global growth last week—for which Grantham’s ideas provide significant fodder—my colleagues and I were spellbound by one statistic: of the 36 major bubbles GMO says it tracks, 33 have completely popped, or returned to their prior trends.