He Predicted the Dot-com Bubble Burst. Now He's Saying SpaceX Could be a Fresh Warning Sign.
Key takeaways
- Reuben Gregg Brewer, The Motley Fool Fri, July 3, 2026 at 9:35 PM GMT+7 4 min read SPCX ^IXIC NVDA Wall Street was fascinated by the initial public offering (IPO) of Space Exploration Technologies (NASDAQ: SPCX).
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
- He recently warned that the market is the most expensive in history during an interview with CNBC.
Reuben Gregg Brewer, The Motley Fool Fri, July 3, 2026 at 9:35 PM GMT+7 4 min read SPCX ^IXIC NVDA Wall Street was fascinated by the initial public offering (IPO) of Space Exploration Technologies (NASDAQ: SPCX). Not only was it huge, raising $75 billion from investors (nearly $86 billion if you include the underwriters' overallotment), but the business seems to come straight out of a science fiction novel. According to Jeremy Grantham, that IPO could be a sign that the AI-driven rally is about to break.
Jeremy Grantham is the co-founder of investment firm GMO. However, his real claim to fame is that he publicly called the top of the Dot-com bubble. The market decline following that top was long and painful, with the Nasdaq dropping nearly 80% over several years. It took about 15 years for the Nadaq to regain all the ground it had lost. When Grantham is worried about a market bubble, there's a good reason to listen.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »