| Dear Reader, The US presidential inauguration is behind us, and we are facing a new reality. Wherever you stand on the political spectrum, there’s no doubt that the next four years will look very different from the last four years. But it’s not just fiscal policy that should concern us. Notably, famous portfolio manager Jeremy Grantham is convinced that we are in the end stages of a major asset bubble that, once it bursts, will send shockwaves around the world. In a recent Over My Shoulder issue, he writes... The single most dependable feature of the late stages of the great bubbles of history has been really crazy investor behavior, especially on the part of individuals. For the first 10 years of this bull market, which is the longest in history, we lacked such wild speculation. But now we have it. His report is a must-read for every investor. His conclusion: My best guess as to the longest this bubble might survive is the late spring or early summer, coinciding with the broad rollout of the COVID vaccine. At that moment, the most pressing issue facing the world economy will have been solved. Market participants will breathe a sigh of relief, look around, and immediately realize that the economy is still in poor shape, stimulus will shortly be cut back with the end of the COVID crisis, and valuations are absurd. I can’t tell you how glad I am that I have experts like Jeremy on my side... and so do my subscribers who get to look “over my shoulder” at the incredible research I am receiving literally every day of the year. “I really enjoy this, it gives me insights that otherwise would be difficult to have in a one-piece format.”
—Alfonso P. Every week, my co-editor Patrick Watson and I read through reams of world-class research so you won’t have to... and send you what we feel is “must-read” information, usually around 2–3 times a week. The expert views and in-depth analysis of the Over My Shoulder contributors—whose ranks include top authorities in their fields, like Howard Marks, Charles Gave, George Friedman, David Kotok, and dozens more—have helped us maneuver through the choppiest seas in the past, and I trust that they will continue to do so. For the next few days, my team is offering Over My Shoulder at a 33% discount... so I’d like to invite you to join us today. All you’ll pay is $9.95 a month (billed monthly). That’s the price of a couple of Starbucks coffees in exchange for valuable information—information that can help you prepare for what’s coming and, in the process, may make you sleep sounder at night. I think you’ll find it’ll be well worth it. Your always scanning the horizon analyst, John Mauldin
Co-Founder, Mauldin Economics |
