Summing up the history of human affairs

In the context of the current Wall Street excitement, I received a letter of assurance from a mutual fund manager saying, among other things:

"Dear Investors,

While the recent downdraft in worldwide equity markets may be unsettling, there is a great deal in our investments to engender optimism. In fact, we believe that we are witnessing an incredible investment opportunity for those who are able to exhibit some fortitude.

We have endured similar experiences in the past.

If the history of human affairs can be summed up in simple terms, it would be by the phrase: “This too shall pass.” In our opinion, the current crisis will end sooner rather than later."

I don't know, in my opinion a significant part of human affairs can be summed up in these simple terms:

"It seemed like a good idea at the time"

Posted on February 23, 2008 and filed under Life.