Legendary investor Jeremy Grantham revealed how the AI craze has changed the odds of an epic market crash. Here are the 8 best quotes.
The veteran investor and GMO cofounder said the AI frenzy probably wouldn't interfere with the bubble bursting. But it could, meaning he now puts the chances of a severe decline at 70% instead of 85%.
The market historian also called for AI to be regulated given its dangerous potential, and advised investors who've made a fortune on Big Tech stocks this year to take some money off the table.1."I'm a little bit disturbed by the emergence of the kind of mini-bubble in artificial intelligence. I'm trying to work out if that will be quick enough and strong enough to alter the final stage of this bubble.
2."Lord knows this was complicated before AI raised its ugly head. We had inflation, the Fed, how quickly would rates go up, how far would they go up, how would the war play out. Oh my hat, it goes on and on." 3."My guess is it's not operating on the timeframe of this bubble. We have a year or two to have a fairly traditional bubble losing air, recession, decline in profit margins, and some grief in the stock market. We can do that before the real effects of AI kick in."
4."I suspect it already has elongated this process somewhat, and there is some fairly small chance that it will mitigate it so that we only have a modest decline. That's why I've taken my probabilities back from 85% certain to 70% certain. (Grantham separately
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