There was one particular phrase that Sir John Templeton regarded as supremely dangerous. He conditioned his own mind to resist entertaining this poisonous thought, and he always cautioned his fellow investors to do the same, lest they bring financial ruin upon themselves.

So what was the offending sentence?

“This time is different.”

While perusing the book review pages recently, I was a delighted to find this phrase emblazoned across the cover of a newly published book with the subtitle “Eight Century’s of Financial Folly.” I have not yet had a chance to read the book, authored by Carmen M. Reinhart and Kenneth Rogoff and published by Princeton University Press, so I have no idea if Sir John’s wisdom may have inspired the title, but there is little doubt that he would have appreciated the message.

Is that Don Draper?