# Grantham Says 70% Crash. Should You Listen This Time?

Page: https://stenobird.com/podcast/creating-richer-lives-7024275/grantham-says-70-crash-should-you-listen-this-time
Text version: https://stenobird.com/podcast/creating-richer-lives-7024275/grantham-says-70-crash-should-you-listen-this-time.md
Podcast: [Creating Richer Lives](https://stenobird.com/podcast/creating-richer-lives-7024275)
Published: 2026-06-27T10:00:00+00:00
Episode link: https://keggerss.libsyn.com/grantham-says-70-crash-should-you-listen-this-time
Audio file: https://traffic.libsyn.com/secure/keggerss/Creating_Richer_Lives_20260627_FINAL.mp3?dest-id=18215
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/creating-richer-lives-7024275/episodes/grantham-says-70-crash-should-you-listen-this-time
Duration seconds: 1561

## Resource

Jeremy Grantham just called this the most expensive U.S. stock market in history and warned of a potential 70% decline — on the same day the Nasdaq has been up huge the past year. So who's right: the legendary bear, or the tape? This episode argues the answer is "both," and that the real skill isn't picking a side — it's managing risk so you can ride a momentum market and step aside before the big fall. We break down why "right and early is still wrong," and lay out a practical framework that blends fundamental and technical analysis: let valuation tell you how big the risk is, and let price action tell you when it's actually happening. In this episode: What Grantham said on CNBC — and why the interviewer's pushback matters The permabear trap: how being right at the wrong time costs you real money The two ways to be wrong in a momentum market (the wipeout vs. the years of missed gains) Why fundamentals measure the size of the risk, not the timing How technicals give you a rules-based exit instead of an ego-based guess A simple two-layer framework: fundamentals set your risk budget, technicals trigger your exit What to do right now when valuations scream "expensive" but the trend is still up

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/creating-richer-lives-7024275/episodes/grantham-says-70-crash-should-you-listen-this-time/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/creating-richer-lives-7024275/grantham-says-70-crash-should-you-listen-this-time.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.