Legendary investor Jeremy Grantham rang the alarm on stocks and recession, warned about the housing market, and hailed Elon Musk's Tesla. Here are his 10 best quotes from a recent event.

• Jeremy Grantham issued grim warnings about the US stock market and economy this week.
• Stocks will slump despite AI buzz, and there's a 70% chance of recession by early 2025, he said.
• Grantham touched on meme stocks, banking risks, real estate, commodities, and Elon Musk's Tesla.

Jeremy Grantham has sounded the alarm on US stocks, warned the economy is likely to slump into recession by early 2025, and cautioned that problems may be brewing in the financial system.

GMO's cofounder and long-term investment strategist also reflected on his inadvertent investment in a meme stock, advised against buying real estate or commodities, and touted Elon Musk's Tesla and other companies fighting climate change.