Raychelle Schar

By David Snowball Welcome to the New Year’s issue of the Mutual Fund Observer. We’re glad you’re here. Heraclitus, the famously elusive Greek philosopher, reminded his students that you cannot step into the same river twice. Both we and the river will have changed. According to legend, one of those students – snarky little barstid – replied: “I don’t think you can step into the same river once.” Even as we step, the river flows and changes. As do we. Heraclitus was speaking of a physical river.