Quote of the day by Jeremy Grantham: "Every bubble ends with the same words: 'This time is different."

The Indian market, like global markets, experiences periods of irrational exuberance. This quote is a timeless reminder for prudent investing.

Adopt a defensive stance; prioritize value over growth in highly speculative segments.

For Indian markets, this story mainly matters for the auto pocket. The current signal is bearish, so traders should watch whether the effect spreads across the sector or stays limited to a single name.

Watch whether the market validates this read through price action, volume, and breadth. If the headline matters, the signal should show up in execution, not just in commentary.

• •Jeremy Grantham warns that 'Every bubble ends with the same words: 'This time is different.'
• •Highlights recurring investor psychology: optimism, greed, and belief in uniqueness.
• •Advises understanding cycles, questioning extreme valuations, and sticking to fundamentals.
• •Risk flag: Market overvaluation
• •Risk flag: Herd mentality among investors