When Jeremy Grantham was asked, “Do you think we will learn anything from this turmoil?”, he responded, “We will learn an enormous amount in the very short term, quite a bit in the medium term and absolutely nothing in the long term. That would be the historical precedent.”

We have short memories. We need to be reminded regularly of the history, as a protection against our own mistakes during the extremes.

#RidingTheRollerCoaster – 177