Bubbles can overshoot well beyond two sigma — some rose to two-and-a-half sigma and Japan reached almost three sigma — which is the practical problem because a client's patience runs out before the bubble finally breaks.
factualpending
Speaker
Jeremy GranthamEvidence Quote
“they can be painfully higher than just two sigma. And that's the problem. Because the client's patience is not quite as long.”
Source
Billionaire investor Jeremy Grantham: This is the most expensive market in American history— CNBC TelevisionCreated: 7/5/2026, 11:28:50 PM
My Notes
Loading notes...