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River Twice Research

It's often been said that the most dangerous words on Wall Street are "this time it's different."

Time and again, people declare that we've entered a new era free of old problems, and time and again, they're wrong. But equally dangerous is the belief that there is nothing new under the sun. More than two thousand years ago, the Greek philosopher Heracleitus argued that the only constant of life is change and that flux and motion are what propel the world.He also described what would later be known as "creative destruction," the idea that nothing shifts without tension and that every innovation is both creative and disruptive.


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Zachary Karabell

Zachary Karabell is President of River Twice Research, an independent economic research and consulting company.

Previously, he was Executive Vice President, Chief Economist, and Head of Marketing at Fred Alger Management, a New York-based investment firm that manages approximately $15 billion in mutual funds and institutional accounts. He was also President of Fred Alger & Company, a broker-dealer; Portfolio Manager of the 5-star China-U.S. Growth Fund (CHUSX); and Executive Vice President of Alger’s Spectra Funds, a no-load family of mutual funds that managed the $30 million Spectra Green Fund. At Alger, he oversaw the creation, launch and marketing of several funds, led corporate strategy for strategic acquisitions, and represented the firm at public forums and in the media.