Colonial First State’s head of investments Al Clark says a sharemarket bubble is brewing. But rather than selling, it is staying invested and ready for “damage control”.
Al Clark once sat through a lunch with Jeremy Grantham and watched as the now famous value investor got pilloried by the audience.
It was 1999 and Grantham, co-founder of GMO, was visiting Sydney from Boston. At the time, investors were piling into internet companies and stock valuations were marching towards 30 times earnings. Grantham, one of the market’s most famous bears, was instinctively steering clear.
Source: https://www.afr.com/markets/equity-markets/how-this-159b-fund-is-profitably-riding-the-untethered-sharemarket-20241218-p5kzct