GMO's Grantham: "The Next 20 Years In The Stock Market Will "Break A Lot Of Hearts""

From CNBC, March 7:

This bull market will not end with a massive pullback, investor Jeremy Grantham says

• “This will be limping along; three steps down, two steps back. It’s not a typical experience,” Grantham, who is famous for calling the last two major bubbles in the market, told CNBC’s Wilfred Frost on Thursday.
• “I was really hoping there would be a magnificent bubble ending to this, as there had been to the three great recent experiences,” he said. “It doesn’t look like it will and, therefore, you’re going to have a decline of a different nature.”

Don’t expect a massive drop to signal the end of the longest bull market in history, investor and GMO founder Jeremy Grantham said Thursday.

“This will be limping along; three steps down, two steps back. It’s not a typical experience,” Grantham, who is famous for calling the last two major bubbles in the market, told CNBC’s Wilfred Frost.

Grantham’s comments come ahead of the bull market’s 10-year anniversary. Since March 9, 2009, the S&P 500 has skyrocketed more than 200 percent.

“I was really hoping there would be a magnificent bubble ending to this, as there had been to the three great recent experiences,” he said referring to the tech bubble bursting, the housing crisis and Japan. “They were all classic. They ended with euphoria and a rapidly accelerating stock market. They’re easy; you know they’ll be followed by an abject decline. This one, I was hoping that would happen. It doesn’t look like it will and, therefore, you’re going to have a decline of a different nature.”...

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HT: ZH