George Frazer’s letter to clients

October 01, 2008

As global markets collapsed in the fall of 2008, company chairman George Frazer wrote to clients:

“The job of media is to sell news. The news of the day is the turbulence in the world’s financial markets. Stories suggest parallels with 1929 and encourage a narrow, short-term focus ignoring the benefit of historical context. Perhaps it is time to separate headline news, a snapshot in time, and frame today’s events with the voice of reason.”

Read George Frazer’s letter. On market turbulence