/Jeremy Grantham calls this one of the ‘great bubbles of financial history’
Jeremy Grantham calls this one of the 'great bubbles of financial history'

Jeremy Grantham calls this one of the ‘great bubbles of financial history’

Renowned investment manager Jeremy Grantham poses on a balcony at his Rowes Wharf office in Boston.

Lane Turner | The Boston Globe via Getty Images

The party’s over on Wall Street as the stock market’s massive run-up since 2009 has now turned into a “fully fledged epic bubble,” billionaire investor Jeremy Grantham said.

The S&P 500 has skyrocketed nearly 450% since its financial crisis closing low on March 9, 2009, reaching levels not before seen.

Between 2009 and 2020, the broader-market index posted annual gains on nine occasions, including three years of returns greater than 20%. In 2020, the S&P 500 recovered from a drop of more than 30% to end the year up 16.3%, trading at an all-time high.