{"id":172936,"date":"2026-05-05T03:04:07","date_gmt":"2026-05-05T03:04:07","guid":{"rendered":"https:\/\/www.europesays.com\/ro\/172936\/"},"modified":"2026-05-05T03:04:07","modified_gmt":"2026-05-05T03:04:07","slug":"suntem-in-cea-mai-mare-bula-financiara-din-istorie-care-se-va-sparge-ca-in-1929","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ro\/172936\/","title":{"rendered":"Suntem \u00een cea mai mare bul\u0103 financiar\u0103 din istorie, care se va sparge ca \u00een 1929"},"content":{"rendered":"<p><a class=\"news__image\" data-href=\"https:\/\/s2.ziareromania.ro\/?mmid=4555d56b10be80d5cd\" data-size=\"1024x814\" title=\"Un renumit oracol avertizeaz\u0103: Suntem \u00een cea mai mare bul\u0103 financiar\u0103 din istorie, care se va sparge ca \u00een 1929\"><img decoding=\"async\" src=\"https:\/\/www.europesays.com\/ro\/wp-content\/uploads\/2026\/05\/Un-renumit-oracol-avertizeaz----Suntem---n-cea-mai-mare-bul---financiar---din-istorie--care-se-va-sp.jpeg\" alt=\"Un renumit oracol avertizeaz\u0103: Suntem \u00een cea mai mare bul\u0103 financiar\u0103 din istorie, care se va sparge ca \u00een 1929\" title=\"Un renumit oracol avertizeaz\u0103: Suntem \u00een cea mai mare bul\u0103 financiar\u0103 din istorie, care se va sparge ca \u00een 1929\" class=\"img-responsive\"\/><\/a><\/p>\n<p>Jeremy Grantham, un oracol \u0219i miliardar britanic spune c\u0103 bula bursier\u0103 se va sparge FOTO: Wikipedia<\/p>\n<p>Pe Wall Street, Jeremy Grantham, investitorul \u0219i filantropul miliardar de origine britanic\u0103, este cunoscut sub numele de \u201ePermabear\u201d. Renumitul oracol avertizeaz\u0103 c\u0103 suntem \u00een cea mai mare <a href=\"https:\/\/ziare.com\/rezerva-federala\/cap-sec-idiot-prea-prost-declaratii-trump-despre-jerome-powell-seful-fed-2009736\" target=\"_blank\" rel=\"nofollow noopener\">bul\u0103 financiar\u0103<\/a> din istorie. El afirm\u0103 c\u0103 inevitabila corec\u021bie, c\u00e2nd se va sparge \u201ebula bursier\u0103\u201d, ar putea fi la fel de sumbr\u0103 precum cea din anul 1929, denumit\u0103 Great Depression (Marea Criz\u0103).<\/p>\n<p>Grantham, acum \u00een v\u00e2rst\u0103 de 87 de ani, \u0219i-a c\u00e2\u0219tigat porecla \u201ePermabear\u201d pentru ie\u0219irea sa timpurie din bulele bursiere din 1999 \u0219i 2008. Spre deosebire de to\u021bi \u201etaurii\u201d care au stat prea mult la petrecere, el a evitat \u201ecarnagiul\u201d atunci c\u00e2nd bulele financiare au explodat, Telegraph.<\/p>\n<p>\u00cenc\u0103 \u00ee\u0219i merit\u0103 numele. Pia\u021ba din <a href=\"https:\/\/ziare.com\/elon-musk\/documente-spacex-numai-singura-persoana-poate-demite-cel-mai-bogat-om-lume-2009752\" target=\"_blank\" rel=\"nofollow noopener\">SUA<\/a> se afl\u0103 acum \u00eentr-o \u201esuper-bul\u0103\u201d, spune el. Este cel pu\u021bin la fel de mare ca \u00een 1929, iar pr\u0103bu\u0219irea inevitabil\u0103 ar putea fi la fel de sumbr\u0103 ca \u00een Marea Criz\u0103. El nu neag\u0103 c\u0103 inteligen\u021ba artificial\u0103, care a sus\u021binut pia\u021ba american\u0103 \u00een cre\u0219tere, este o tehnologie care schimb\u0103 lumea. Dar spune c\u0103 istoria arat\u0103 c\u0103 nici m\u0103car acest lucru nu va opri spargerea bulei.<\/p>\n<p>\u201eAvem popula\u021bii \u00een sc\u0103dere, probleme climatice, resurse care se epuizeaz\u0103, geopolitic\u0103, comer\u021b global &#8211; este o list\u0103 lung\u0103 \u0219i totu\u0219i pia\u021ba este chiar mai scump\u0103 dec\u00e2t \u00een 2000 \u0219i devine din ce \u00een ce mai scump\u0103 pe zi ce trece\u201d, spune el. \u201eEste foarte pu\u021bin probabil ca acest maxim s\u0103 nu fie urmat de o pr\u0103bu\u0219ire fundamental\u0103, a\u0219a cum a fost \u00een 1929.\u201d<\/p>\n<p>\u201eA\u0219adar, de ce nu auzim asta de la b\u0103ncile noastre de investi\u021bii, de la administratorii no\u0219tri de fonduri? Ei \u0219tiu c\u0103 este adev\u0103rat\u201d, spune Grantham, dar modelul lor de afaceri se bazeaz\u0103 pe acela de a te \u021bine la petrecere. \u201eJuc\u0103torii majori nu \u00ee\u021bi vor spune niciodat\u0103 s\u0103 te retragi de pe pia\u021b\u0103. Pur \u0219i simplu nu se va \u00eent\u00e2mpla. Nu s-a \u00eent\u00e2mplat niciodat\u0103, nu se va \u00eent\u00e2mpla niciodat\u0103. Trebuie doar s\u0103 \u00een\u021belegi de ce: nu pot face asta din motive comerciale. Asta nu \u00eenseamn\u0103 c\u0103 nu v\u0103d asta.\u201d<\/p>\n<p>\u00centr-un fel, Grantham este un titan improbabil de pe Wall Street. S-a n\u0103scut \u00eentr-un sat din Hertfordshire \u00een 1938, \u00eentr-o familie din clasa mijlocie superioar\u0103, \u00eenainte de a se muta la Doncaster, South Yorkshire, dup\u0103 ce tat\u0103l s\u0103u a fost ucis \u00een Al Doilea R\u0103zboi Mondial.<\/p>\n<p>A intrat \u00een domeniul investi\u021biilor la sf\u00e2r\u0219itul anilor 1960, deoarece p\u0103rea s\u0103 fie bine pl\u0103tit \u2013 \u0219i probabil c\u0103 se potrivea acestor atribute. P\u00e2n\u0103 c\u00e2nd \u0219i-a fondat propria firm\u0103, GMO, \u00een 1977, \u00ee\u0219i dezvoltase deja stilul de investi\u021bii caracteristic: c\u0103uta\u021bi ac\u021biuni subevaluate, deoarece totul revine la medie \u00een cele din urm\u0103.<\/p>\n<p>Regula cardinal\u0103 \u00een via\u021b\u0103 este s\u0103 nu gre\u0219e\u0219ti niciodat\u0103 singur<\/p>\n<p>El \u0219i colegii s\u0103i au compilat un set de date cu toate bulele anterioare, ceea ce i-a dovedit punctul de vedere: oric\u00e2t de mari ar fi fost bula \u0219i pr\u0103bu\u0219irea, pia\u021ba a revenit \u00een cele din urm\u0103 la trend. A\u0219adar, c\u00e2nd Grantham a observat c\u0103 boom-ul dotcom-urilor se transforma \u00eentr-o bul\u0103 \u00een 1997 \u2013 pre\u021burile ac\u021biunilor ajung\u00e2nd, \u00een medie, la de 21 de ori valoarea profiturilor, la fel ca \u00een 1929 \u2013 a presupus c\u0103 aceasta se va sparge \u00een cur\u00e2nd.<\/p>\n<p>A mai durat doi ani \u0219i pia\u021ba a ajuns p\u00e2n\u0103 la 35 de ori c\u00e2\u0219tigurile. \u00centre timp, au subperformat indicele lor de referin\u021b\u0103 cu \u0219ase puncte, \u00een timp ce cei care au r\u0103mas \u00een fruntea acelui montagne russe au dep\u0103\u0219it performan\u021ba cu p\u00e2n\u0103 la 12 puncte.<\/p>\n<p>\u201eFaci asta timp de c\u00e2\u021biva ani \u0219i se pare c\u0103 pierzi o mul\u021bime de afaceri. Cum \u00eemi place s\u0103 spun, istoria spune c\u0103 te vei \u00eentoarce la vechea tendin\u021b\u0103, dar nu neap\u0103rat cu aceia\u0219i clien\u021bi cu care ai plecat\u201d, spune el ironic. \u201eAm f\u0103cut pariurile corecte din motivul corect. Am c\u00e2\u0219tigat pariul. Am economisit banii. Dar nimeni nu se \u00eentoarce.\u201d<\/p>\n<p>Bula actual\u0103 se transform\u0103 \u00een cea mai mare pe care a v\u0103zut-o. Dar este complicat\u0103 de faptul c\u0103, spre deosebire de era dotcom, cele \u201e\u0219apte companii magnifice\u201d de tehnologie &#8211; Alphabet (care de\u021bine <a href=\"https:\/\/ziare.com\/google\/\" title=\"Google\" rel=\"nofollow noopener\" target=\"_blank\">Google<\/a>), Amazon, <a href=\"https:\/\/ziare.com\/apple\/\" title=\"Apple\" rel=\"nofollow noopener\" target=\"_blank\">Apple<\/a>, Meta (care de\u021bine <a href=\"https:\/\/ziare.com\/facebook\/\" title=\"Facebook\" rel=\"nofollow noopener\" target=\"_blank\">Facebook<\/a>), <a href=\"https:\/\/ziare.com\/microsoft\/\" title=\"Microsoft\" rel=\"nofollow noopener\" target=\"_blank\">Microsoft<\/a>, Nvidia \u0219i <a href=\"https:\/\/ziare.com\/tesla\/\" title=\"Tesla\" rel=\"nofollow noopener\" target=\"_blank\">Tesla<\/a> &#8211; sunt afaceri solide. \u201e\u00cendeplinesc unele dintre caracteristicile lucrurilor pe care nu te-ar deranja s\u0103 le de\u021bii \u00eentr-un cataclism. Probabil c\u0103 nu m-ar deranja s\u0103 de\u021bin Google, dac\u0103 a\u0219 \u0219ti c\u0103 intr\u0103m \u00een urm\u0103toarea Mare Criz\u0103\u201d, spune el.<\/p>\n<p>Dar compar\u0103 boom-ul inteligen\u021bei artificiale cu mania feroviar\u0103 din epoca victorian\u0103. C\u0103ile ferate urmau s\u0103 schimbe lumea, dar existau prea multe proiecte \u0219i prea mul\u021bi bani. \u201eLegenda spune c\u0103 au fost construite sau planificate \u0219ase linii \u00eentre Leeds \u0219i Manchester. Ai nevoie doar de una \u0219i poate c\u0103 dou\u0103 nu vor fi un dezastru total. Dar de atunci \u00eencolo, toat\u0103 lumea \u00ee\u0219i pierde banii \u2013 to\u021bi, chiar \u0219i primii. \u0218i a\u0219a a fost.\u201d Acest lucru s-a \u00eent\u00e2mplat \u0219i \u00een timpul boomului dotcom. Ac\u021biunile Amazon au crescut de \u0219ase ori \u00een timpul bulei, apoi au sc\u0103zut cu 92% \u00een timpul pr\u0103bu\u0219irii: \u201e\u0218i apoi, ie\u0219ind din ruine, a mo\u0219tenit lumea.<\/p>\n<p>Cu toate acestea, el nu este sigur c\u0103 bula este gata s\u0103 explodeze. Acest lucru se \u00eent\u00e2mpl\u0103 atunci c\u00e2nd investitorii \u00eencep s\u0103 mute banii din favoritele tehnologiei \u00een vechile \u0219i plictisitoarele companii de top. \u201eCump\u0103rarea \u0219i men\u021binerea sunt o strategie bun\u0103 \u00een 80% din cazuri. Dar dac\u0103 vezi de fapt o pia\u021b\u0103 supraevaluat\u0103 \u2013 o adev\u0103rat\u0103 bul\u0103, nu categoria celor care tocmai au ajuns \u00een bul\u0103, ci super-bula \u2013 \u0219i \u00ee\u021bi men\u021bii pozi\u021bia, mi se pare o disciplin\u0103 costisitoare.\u201d<\/p>\n<p>\u201eJohn Maynard Keynes a spus c\u0103 regula cardinal\u0103 \u00een via\u021b\u0103 este s\u0103 nu gre\u0219e\u0219ti niciodat\u0103 singur\u201d, spune el. Dac\u0103 to\u021bi cei de pe Wall Street se \u021bin de acela\u0219i scenariu, \u201eto\u021bi vor pica \u00eempreun\u0103 \u0219i nimeni nu-\u0219i va pierde locul de munc\u0103\u201d.<\/p>\n<p>\u021ai-a pl\u0103cut articolul?<\/p>\n<p> Vrem s\u0103 producem mai multe, \u00eens\u0103 avem nevoie de sus\u021binerea ta. Orice dona\u021bie conteaz\u0103 pentru jurnalismul independent <\/p>\n","protected":false},"excerpt":{"rendered":"Jeremy Grantham, un oracol \u0219i miliardar britanic spune c\u0103 bula bursier\u0103 se va sparge FOTO: Wikipedia Pe Wall&hellip;\n","protected":false},"author":2,"featured_media":172937,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[97,49620,49322,14273,96,37687,49621,41,40,38,39,9224],"class_list":{"0":"post-172936","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-afaceri","8":"tag-afaceri","9":"tag-bula-financiara","10":"tag-bursa-americana","11":"tag-bursa-new-york","12":"tag-business","13":"tag-companii-tehnologie","14":"tag-oracol","15":"tag-ro","16":"tag-romana","17":"tag-romania","18":"tag-romanian","19":"tag-wall-street"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ro\/116519755138329469","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/posts\/172936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/comments?post=172936"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/posts\/172936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/media\/172937"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/media?parent=172936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/categories?post=172936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ro\/wp-json\/wp\/v2\/tags?post=172936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}