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”