Fund manager Jeremy Grantham: Sees S&P, Nasdaq drop doubling

Key Facts

• Matthew Lloyd/Getty Images News Famed investor Jeremy Grantham said that he expects the S&P 500 (SP500) and the Nasdaq (COMP
• "The other day we ere down 19.9 on the S&P and about 27 on the Nasdaq," Grantham said earlier in a CNBC interview.
• Grantham's comments come after his January commentary that the stock market is in a "superbubble" and he expected the S&P 500 to plunge about 45% from current levels to a mark around 2,500.
• "I think this kind of 2000 bubble that we had is dangerously likely to morph into the 1970s, where inflation is always a part of the background discussion and where growth rate starts to dwindle away," Grantham, the co-founder and chief investment strategist of Grantham, Mayo, Van Otterlo, added.

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