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2 weeks ago

Famed permabear warns SpaceX IPO could be laughed at in 50 years, 'craziest' market bet for Main Street

SpaceX has been fast-tracked into the Nasdaq-100 Index, meaning the stock performance of Elon Musk’s rocket company is now directly tied to the retirement accounts, mutual funds and portfolios of millions of everyday American investors.But self-proclaimed market "permabear" and GMO co-founder Jeremy Grantham is heavily skeptical of the company's valuation and long-term investment thesis."Everyone’s lining up to tell you to buy the craziest IPO in the history of man," Grantham told Morningstar’s "The Long View" podcast. "In 50 years, they’ll be telling and writing stories about SpaceX, and they...