Grantham Says Assets ‘Brutally Overpriced’ on Fed Policy
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Jeremy Grantham, chief investment strategist at Grantham Mayo Van Otterloo & Co., said global asset prices have climbed too high because of the U.S. Federal Reserve’s expansive monetary policy.
“All global asset assets are once again becoming overpriced,” Grantham wrote in a quarterly letter released today. U.S. companies, other than “quality” stocks with stable earnings and low debt, and most global growth equities, are “brutally overpriced,” Grantham wrote.