The Fed's asset buys threaten to make stocks "dangerously overpriced," Jeremy Grantham tells...

|By:, SA News Editor

The Fed's asset buys threaten to make stocks "dangerously overpriced," Jeremy Grantham tells CNBC. "Don't play the game," he advises; get to cash and stay nimble, because you can use that cash to buy if the S&P 500 drops from 1,211 today to 900, "which is what we think is fair value."