"I, for one, wish that the world would get on with whatever is coming next"-from GMO's 2Q 2012 Letter, which contains Jeremy Grantham’s "Welcome to Dystopia!, Entering a long-term and politically dangerous food crisis"
Previously:
"Climateer Line of the Day: Jeremy Grantham on Profit Margins Edition":
“Profit margins
are probably the most mean-reverting series in finance, and if profit
margins do not mean-revert, then something has gone badly wrong with
capitalism. If high profits do not attract competition, there is
something wrong with the system and it is not functioning properly.” – Jeremy Grantham
