In the long run investors spend about half the time merely waiting to recover a prior high — after the 1929 peak recovery took until 1954, and after the 1972 peak until 1981-82 — a fact obscured by the recent 16-year uninterrupted rise.
factualpending
Speaker
Jeremy GranthamEvidence Quote
“in the long run, it's half the time. After 1929, you have to wait until 1954. After 19 72, you have to wait until 81 or 82.”
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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