Legendary investor Jeremy Grantham warns stocks could drop another 50% this year—but he doesn’t say to stay away from markets entirely

Investor Jeremy Grantham speaking at a conference in 2012. (Credit: Matthew Lloyd—Getty Images Europe)

The hardest part of the stock market’s bearish turn over the past year may still lie ahead, and investors may have to buckle in for an even steeper downturn, according to longtime stock market guru Jeremy Grantham.

The S&P 500, a benchmark for large-cap companies in the U.S., has officially been in bear market territory since June 2022, when stocks plunged 20% from their previous high.