Playing The Fire With Jeremy Grantham This Weekend

Always recommended reading of latest thoughts by Jeremy Grantham. One quote to spice it up:

...We all know that there is plenty that could go wrong. Some combinations would be enough to break the market but still leave the economy limping along. This would be far better than having the market rise through the fall of next year by, say, another 30% to40%, along with risk trades similarly flourishing and then all breaking. The possibilities of this happening seem nerve-wrackingly high. The developed world’s financial and economic structure, already none too impressive, would simply buckle at the knees.