Subject: Valuation
The market capitalization to GDP ratio referenced by Grantham is estimated to be at 235%, according to Longtermtrends.com. It means that the value of the total stock market is more than two times the size of the U.S. economy.

Legendary investor Warren Buffett used this indicator, saying years ago that when it “approaches 200% — as it did in 1999 and a part of 2000 — you are playing with fire.”


https://www.cnbc.com/2026/06/2...

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