Using a precise definition of a bubble as a two-sigma event — statistically expected every 44 years if random but actually occurring every 36 years — all 26 identified historical bubbles that met this definition broke all the way back to their pre-existing trend.
factualpending
Speaker
Jeremy GranthamEvidence Quote
“there were 26 of them, and 26 broke all the way back to the pre-existing trend”
Source
Billionaire investor Jeremy Grantham: This is the most expensive market in American history— CNBC TelevisionCreated: 7/5/2026, 11:28:50 PM
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