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Fortune

Eleanor Pringle

Legendary investor Jeremy Grantham says the stock market has a 70% chance of crashing

Jeremy Grantham Stock Market GMO

Jeremy Grantham, co-founder of GMO, speaks during the Ira Sohn Investmen Research Conference in New York, U.S., on Wednesday, May 26, 2010. (Credit: Daniel Acker—Bloomberg/Getty Images)

A legendary investor whose expertise lies in major stock crashes says the market is heading toward a burst bubble, akin to the crises seen in 1929 and 2000.

British billionaire Jeremy Grantham is cofounder of investment management company GMO, which reportedly handles a near $65 billion in assets.

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