Something to Think About

Reuters reports that, in a speech at Columbia Tuesday night, Former ExxonMobil CEO Lee Raymond said:

"People don't understand the time frame that we operate in. We operate in terms of 10-, 20-, 30-, 40-year cycles and to put that in context, that's 20 (U.S.) Congresses. A single quarter or a single year, which may mean everything from a political circus point of view, is not really all that significant in the time frame that we operate in."

Social investors, and anyone interested in the interaction of governments, markets, and society, should think hard about that statement.