Keep pulling the thread on Jeremy Grantham.
Jeremy Grantham believes the current AI-driven market bubble is comparable in scale only to the railroad bubble of the 19th century, and potentially even larger.
SpaceX has a valuation of approximately $2.7 trillion on a projected $20 billion of revenue for 2025, resulting in a price-to-sales ratio of over 100.
OpenAI and Anthropic are expected to have large IPOs later in the year.
A key indicator of a market bubble peak is when the previous year's speculative, high-flying stocks begin to decline while the broader market continues to rise.
At the end of 2020, QuantumScape, a battery research lab with no sales, peaked at a valuation greater than General Motors.
NVIDIA's revenue grew from $11.7 billion in 2019 to a projected $130 billion in 2025, an increase of over 10 times in six years.
Jeremy Grantham argues the Magnificent Seven are shifting from dominating separate, monopolistic niches to competing directly against each other in the AI market.
Jeremy Grantham believes the bear market of 2022 was interrupted by the launch of ChatGPT, which spurred massive AI-related capital expenditures and prevented a mild recession.
On June 15th, the world's 500 wealthiest individuals collectively increased their wealth by $366 billion.
Jeremy Grantham predicts that in 50 years, market historians will view SpaceX's prospectus as a joke comparable to the South Sea Bubble.
During the tech bubble, Jeremy Grantham's firm GMO lost half of its book of business in a period of two and a quarter years.
In 2021, meme stocks and Cathie Wood's portfolio peaked mid-year and were down 35-40% by year-end, while the S&P 500 continued to rise.