Are we in a new bull market or is the "super bubble" still deflating

In 2022, Jeremy Grantham warned that the "super bubble" created by low interest rates and monetary stimulus was going to burst. After a turbulent period in 2022, is the worst now behind us? 

James Marlay co-founder of Livewire Markets, interviewed Grantham on 12 September 2023 as part of Livewire Live 2023. While Grantham believes there is less than a 50% chance that the world can avoid a social, economic, environmental and financial crisis - as Ally Selby notes in this wire - he also thinks there are opportunities available for investors. 

Watch the full video below for his take on the current macro environment and how that might play out over the next few years, the markets and sectors to avoid, and where opportunities might lie. 

00:38  Has the bubble already burst? LWL audience results
01:04  Grantham's answer
01:30  Grantham on AI
02:37  Are there parts of the market where you're seeing bubble activity?
04:40  Long-term underrated problems
05:50  Early-stage investor capital and the GMO foundation
06:53  Grantham's investment ideas if no restrictions on fund mission
08:00 US economy and quality stocks
08:57  Why Grantham loves climate change stocks
10:00 Should we be worried about an economic slowdown in China?
10:58  Australian resources - large cap or lithium?
13:36  Society's not going to be rolling in commodities ever again
14:48  What are you optimistic about on climate change?
16:03  Climate change will dominate your portfolios
16:31   What will save our bacon? Renewables
17:55   Investments in fusion and geothermal
19:05  What sort of returns can Australians expect out of property over next 10 years?
20:55  Why income inequality is the poison in the capitalist system
22:22  The circuit breaker on income equality
24:25  Probability of a US recession in the next 18 months
25:44  "Reinvesting where terrified" - how to make the most of opportunities

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