Paul Singer’s Elliott Management Corp (which is also the hedge fund at the centre of Argentina’s dispute) is out with a note today warning about the risk of an electromagnetic pulse event disrupting the electronic grid.

“While these pages are typically chock full of scary or depressing scenarios, there is one risk that is head-and-shoulders above all the rest in terms of the scope of potential damage adjusted for the likelihood of occurrence,” Elliott wrote in the letter, a copy of which was obtained by Bloomberg.

He says the a disturbance could shut down the electrical grid for months.

What trade would you make if you knew the entire global electrical grid would be shut down for three months?