Grantham Clarifies His Views on the Stock Market – Barron's – Barron's

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After a few misquotes and misunderstandings by journalists, overeager perhaps for a punchy headline and unwilling to invest time in my two long and quite possibly boring pieces, I need to reply.

They have said, or implied, that I believe high prices are here permanently and that I also believe regression to the mean has ended. This is, of course, inaccurate, as readers of my quarterly letters know.

I have suggested that…