June 2023

Frank Boland
June 06, 2023

It was easily 30 years ago … probably longer. I was sitting in a client’s house in Exeter, New Hampshire. My client was a man in his late sixties who had been an M.I.T. graduate. As such, he had an elevated level of self-confidence. I handed him a sheet of his holdings which showed profit and losses. It had been a difficult...


Do we have the capability to eliminate booms and busts in economic activity? The answer in my judgment is no, because there is no tool to change human nature. Too often people are prone to recurring bouts of optimism and pessimism.

– Alan Greenspan