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Grantham on Why the S&P Melt-Up to 3,600 Didn’t Happen

In a memo in January of this year, GMO founder Jeremy Grantham suggested to clients that they “brace themselves for a near-term melt-up in stock prices that might take the S&P 500 to the 3,600 area,” according to an article in Financial Advisor. Citing a research paper published by Harvard...
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