Jeremy Grantham Forbes Interview

Good Jeremy Grantham interview in Forbes with a few different tidbits than have been in other recent Grantham comments. Thanks goes to Pete

http://www.forbes.com/2009/01/24/intelligent-investing-grantham-briefing-bookJan26.html

What is your bold prediction for the future?

Keying off the word "bold," my prediction is that China will be a substantial disappointment. The reason I say "keying off" is that this is far from being a certain prediction. But I have a strong hunch China will disappoint, and maybe been bitterly disappoint.

and

What about Britain?

Ugh [laughs]. If it happened quickly, it would be entitled to decline by a solid 35%, plus an overrun. So anything up to a 50% decline from the peak. If if happens slowly and gives time for family income to climb that will mitigate it. We usually state that as a 50% decline immediately, or 12 years marking time. My guess it will happen pretty darn quickly. It will be unlikely that they don't drop 40% from the peak over two to three years, starting six to nine months ago. They do a mean bubble.