Billionaire's WARNING: I'm SELLING. The Crash Is Already Here!

**Steven Bartlett** (0:00)
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What advice do you give for the average person that's looking to invest their salary or their wages?

**Jeremy Grantham** (1:02)
Don't own US stocks. That's a simple strategy that you can act on.

**Steven Bartlett** (1:06)
What about S&P 500?

**Jeremy Grantham** (1:08)
No. Really? Yeah. And if you have a big position in US technology stocks, my personal advice would be to sell them all.

**Steven Bartlett** (1:15)
But I'm an investor in SpaceX.

**Jeremy Grantham** (1:16)
Good luck. SpaceX is such a fabulous ES story, and we can go into that.

**Steven Bartlett** (1:20)
Crypto?

**Jeremy Grantham** (1:21)
No. Why? It's an unnecessary piece of nonsense that facilitates nothing except criminals moving money, but they can't be seen.

**Steven Bartlett** (1:28)
Do you think Bitcoin is going to go to zero?

**Jeremy Grantham** (1:30)
Yes, it will certainly go to zero.

**Steven Bartlett** (1:32)
So how many years have you spent investing?

**Jeremy Grantham** (1:34)
60 years.

**Steven Bartlett** (1:34)
And what's the most amount of money you've ever managed of other people's money?

**Jeremy Grantham** (1:38)
165 billion.

**Steven Bartlett** (1:39)
And one of the things you're famous for talking about is this idea of bubbles.

**Jeremy Grantham** (1:43)
Yes. And bubbles always occur around the very most important ideas. So the railroads, everyone could see that it would change the world. The same with the Internet. And everyone wanted to put their money in. And so they over-invested. But this is the problem. Eventually, they bust. And if you look at the great bubbles breaking of the past, you find that it's followed by really tough times, a miserable period for the economy. And the bigger the bubble, the bigger the bust. And now we're in the biggest investment bubble that arguably has ever occurred, AI.

**Steven Bartlett** (2:12)
Are we on the verge of a collapse with AI over the coming years?

**Jeremy Grantham** (2:15)
The next few days, the next few weeks, the next few months, but certainly the next few years.

**Steven Bartlett** (2:19)
So if you're not someone that has a huge amount of savings, what kind of strategy should they be adopting when an economy starts to get bad and there's an economic bubble collapse?

**Jeremy Grantham** (2:28)
So I will go through everything, but you will not receive this advice from investment advisors because they'll lose a lot of business.

**Steven Bartlett** (2:35)
Would you be thinking about the country you live in at this moment in time?

**Jeremy Grantham** (2:39)
Absolutely.

**Steven Bartlett** (2:39)
Is there any countries you wouldn't live in?

**Jeremy Grantham** (2:41)
I think I have to refuse to answer this on the grounds that it might tend to incriminate me.

**Steven Bartlett** (2:45)
Oh, okay. So you're saying don't live in the United States? I've just moved here. Why not the United States?
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