Dear FSC Friends,
Cycles in the City '26 is in the books. What I didn't expect — though perhaps I should have — was that it would be even better than last year.
Seeing so many faces from 2025 return made it feel like a reunion. And watching some of the legends of market cycles in our midst — clearly enjoying themselves, clearly engaged — reminded me why this community is unlike any other. Everyone brought their A game and it really showed.
Twenty speakers. Three days. A room full of people who have staked their professional reputations on the reality of cycles. What happened when we put that much rigorous, convergent thinking together was not easy to predict in advance. But the direction was unmistakable.
The direction was toward each other.
I don't mean that sentimentally. I mean it analytically. Speaker after speaker — using completely different methods, different data, different theoretical traditions — arrived at the same window: 2027 to 2030. Michael Howell's global liquidity cycle troughs there. Larry Williams' century-scale cycle peaks there. Akhil Patel's 18-year real estate cycle crests now and rolls over into it. Andrew Pancholi's geopolitical cycles converge on it from four independent directions. John Bollinger's 16-year expansion-consolidation pattern puts the end of the current expansion squarely in that range.
None of these people coordinated their forecasts. Most of them had not previously compared notes. The convergence was not manufactured. It emerged.
And that is exactly why I want to be careful about it.
The most seductive thing a cycles researcher can encounter is agreement. When independent methods converge, it feels like confirmation. Sometimes it is. But we owe it to ourselves to ask the harder question: Is the convergence telling us something about the world, or something about us? I don't believe it's the latter — the methods were too different, the researchers too independent — but the discipline of asking is the price of being taken seriously. Larry Williams said it plainly: Most cycle "discoveries" are curve-fitting in disguise. Lars von Thienen named it the "cycle trap." Peter Borish reminded us that more data makes yesterday more explainable without making tomorrow more certain. We should hold our convergence and our skepticism in the same hand.
Beneath the agreement on when sat a deeper and less settled question: why.
This is the question I care about most, and it divided the room in the most productive way. Some presenters don't need a cause — Stan Harley studies kinematics and leaves dynamics alone. Others are built on mechanism — Janne Miettinen's hormonal oscillations, Chris Carolan's tides, Michael Howell's debt refinancing. I've come to believe this question is not academic. A cycle you understand the cause of is a cycle you can trust when the world changes. A cycle you've only pattern-matched will hold right up until the moment it doesn't. Tom McClellan drew the line most clearly: natural frequencies endure; induced frequencies vanish when the forcing changes. The two look identical in the data. Only understanding tells them apart.
Which brings me back to why any of this matters.
A convergence on 2027–2030 is not a prophecy. If it were, there would be nothing to do but wait. The thing our founders glimpsed in 1941, and the thing we are recovering now, is that cycles don't only tell us what happens next. They tell us what we might do next. Order matters. We are not spectators to these patterns — we are inside them, and how we act is part of what they become. That is not a burden. It is the reason the work is worth doing.
Thank you for being here. Thank you for bringing your best. The conversations that happened in that room — and in the hallways, over dinner, and in the library at Baruch — have already changed what happens next. That was not incidental to the conference. It was the conference.
I can't wait to see what we do with it.
It's about time,
Dr. Richard Smith
FSC Chairman of the Board and Executive Director
Dear FSC Friends,
This month, we gather.
Cycles in the City '26 takes place in May, and I want to tell you why I believe it may be the most significant event in the FSC's recent history – and why you should join us (there are a few seats left).
Let me start with something I've been sitting with for the past several months.
Spending time in the archives has changed how I think about cycles. Dewey and his colleagues studied cycles differently than we do today. They were not simply fitting curves to data. They were asking what cycles mean – why they recur, what connects them, what the patterns are patterns of. That is a different kind of question, and it requires a different kind of attention.
I've been chasing that question myself. Thinking about the tides – the way the lunar M2 and the solar S2 interact to produce the spring and neap tides – I began to see something I hadn't seen before. The individual cycles matter. But what matters more is the relationship between them. The phenomenon you observe isn't M2 or S2. It's what happens when they meet.
That seems obvious once you say it. And yet most cycle analysis treats cycles as independent signals to be isolated, identified, and stacked. What the tides teach is that the relationship is not incidental. The relationship is constitutive. Remove the interaction and you don't have a simpler version of the same thing – you have something categorically different.
I'm not going to develop that further here. But I will say that following that thread has led me somewhere unexpected – into questions about the mathematics that underlies cycles, and why the standard toolkit may be systematically leaving something out. There is a difference between algebra and geometry that turns out to matter enormously. Algebra without geometry is blind. And I believe that cycles research has been doing a great deal of very good algebra.
What I expect from Cycles in the City is the beginning of something more.
Look at what we have assembled: Michael Howell on the debt/liquidity cycle; Iain MacKay on tidal planets; Christopher Carolan on tides and calendars as the original seasonal clock; Janne Miettinen on population-wide hormonal oscillators and the Fourth Turning; And that just takes us through the first half of Day 1!
We also have Tom McClellan bringing insights from physics directly to market cycles. Harry Dent on cycles understood in hierarchies. Elliott Prechter, John Bollinger, Larry Williams, Jake Bernstein – names that represent decades and decades of serious empirical work.
These are not people who merely believe in cycles. These are people who have staked their professional reputations on them. Three days, twenty-plus speakers, an interactive roundtable each afternoon, a VIP dinner, and an evening reception. What happens when you put that much rigorous, convergent thinking in one room is difficult to predict precisely. But I have a strong intuition about the direction.
The veil gets lifted on something.
The FSC was founded in 1941 by people who saw that the structure of events was not random – that there was a pattern in how things unfold, and that it could be studied. They were right. What they perhaps could not have anticipated was how long it would take the rest of the world to catch up, or what tools would eventually be available to pursue those questions seriously.
We have those tools now. And we have each other.
There are only a few seats remaining. If you've been on the fence, it’s now or never. Click here to secure your spot.
I’ll see you there – and we’ll see new things together.
Dr. Richard Smith
Chairman of the Board and Executive Director
Dear FSC Friends,
Over the past several months, I've been spending a great deal of time in the archives.
What has struck me most is not just the content, but the intelligence behind it. When you read FSC Founder Edward R. Dewey's work closely, you can feel it. There is a kind of disciplined intuition at work – a capacity to perceive patterns in time that is hard to explain, especially when you remember that he was working without any of the tools we have today. How he arrived at something like the 17.7-year war cycle, largely by hand, is extraordinary.
It is a reminder of what natural intelligence is capable of. By "natural" here, I mean something specific: Dewey was an embodied intelligence. The consequences were real for him. He had something to lose and something to prove. That is not a biographical footnote – it is the precondition for the kind of perception he brought to his work.
Today, we have artificial intelligence – effectively unlimited computational power. We can process vast datasets, test hypotheses instantly, and extend patterns across time and domains. And yet, on its own, AI produces very little that is meaningful. It generates output, but it does not understand. It does not choose. It does not bear consequences.
It is, in that precise sense, inconsequential. That doesn't mean that it isn't useful. It is incredibly useful. It just can't decide what matters.
I see this clearly in my own work with the archives. The models help me search, organize, and extend Dewey's work – but they don't bring it to life. What brings it to life is something else entirely: the moment when Dewey's intelligence connects with my own. When I can see what he was seeing. When the patterns begin to make sense not just abstractly, but personally – when they begin to matter. That is natural intelligence at work.
And it is only at that point that AI becomes truly useful – because now it is being directed. Now it is amplifying judgment rather than replacing it. Used this way, AI is not a substitute for intelligence; it is an instrument that points beyond itself toward the human inquiry it serves. The moment it is mistaken for anything more, it becomes an obstacle rather than a tool.
What is the key difference between natural and artificial intelligence as I'm describing it here? Natural intelligence operates in cycles – it anticipates, acts, receives feedback, and adjusts. It is always closing a loop. AI never closes a loop. It has no stake in the outcome.
Dewey and his colleagues obviously glimpsed something that was very important to them in the early decades of the twentieth century. Think about it. Dewey was the chief economist in the Hoover administration. He was joined by, just to name a few, the Secretary of the Smithsonian, the head of the Harvard Observatory, and the head of the Yale Geology Department.
They saw something. They saw cycles – that events are not simply random; that there is structure in how things unfold – structure that persists, recurs, and can, under the right conditions, be studied and understood. They recognized that this was something not yet well understood. They sought to understand it better.
It's not yet clear why their Herculean efforts to bring the question of cycles to the wider world did not achieve the historic results they hoped for. Over time, most of the founders fell away from the FSC, and it was mainly Dewey and his staff who carried on the quest. I have a hunch as to why.
I believe the world just wasn't yet ready for an integrated understanding of cycles. I believe we had to go through another 80-plus years of our fascination with mechanism and technology before we could return in earnest to the questions that motivated our founders.
Ironically, it is the very fruits of that complete immersion in mechanism and technology – namely, computers and AI – that are bringing us back to those same questions. The tool that epitomizes the age of mechanism has shown us, unmistakably, where mechanism ends. AI has created unprecedented capabilities to collect and analyze data for cycles, yes. But it has done more than that. It has brought us back to the question of what it means to be human – what it means to be part of natural intelligence.
I've been deeply moved by my work with the archives. It has given me a much deeper appreciation of the work of our predecessors. Their prescience was remarkable. It has also given me an appreciation of the extraordinary power of the new AI tools at our disposal today. The combination of those two inspirations has left me more convinced than ever that the FSC's founding questions were the right ones – and that we are finally equipped to pursue them seriously. We are not just preserving the past. We are testing it, extending it, and asking what it means.
Which brings me to the next logical step. If this work is to mature, it needs a place where it can be developed seriously – where results are made explicit, challenged, and built upon. That is the role we envision for a revived FSC Journal: not as a retrospective, but as a living record of inquiry grounded in both history and modern tools.
There is still much to do.
But for the first time in a long time, it feels like the pieces are beginning to come together.
Dr. Richard Smith
Chairman of the Board and Executive Director
Dear FSC Friends,
The work of the Foundation for the Study of Cycles has always been grounded in a simple conviction: Markets, economies, and societies move in rhythms shaped by real constraints. Over the past year, that conviction has only strengthened.
Our recent Market Forecast 2026 was the most successful we’ve ever hosted – not just in participation, but in coherence of insight. Across very different analytical styles, a common understanding emerged: We are operating in a late-stage debt and liquidity regime that inflates financial asset prices while steadily hollowing out the real economy. Cycles are being stretched, distorted, and prolonged – not resolved.
Artificial intelligence has entered this environment not as a corrective force, but as an accelerant. AI rewards scale, capital intensity, and data ownership far more than labor or productive capacity. Rather than narrowing inequality, it risks deepening the divide between financial markets and lived economic reality. Policymakers, faced with the consequences of excessive leverage, are increasingly incentivized to protect asset values – further extending cycles and reinforcing distortions.
For investors, this has clear implications. Asset strength should not be mistaken for economic health. Timing risk matters more than ever. Durability, real assets, and exposure to physical and biological constraints deserve renewed attention. Cycles are no longer just signals of opportunity – they are warnings about regime.
Against this backdrop, the Foundation is organizing itself for the next phase. Planning for FSC’s Cycles in the City ‘26 conference is well underway, with strong early momentum and an expanded agenda that reflects where cycles thinking must now go. After the success of the 2025 conference, I didn’t expect we could move faster – but with our footing secure, 2026 is shaping up to be even more substantive.
Our technology platform is also evolving in service of this mission. Expanded data coverage, deeper integration of long-term public series, and new approaches such as cycle swing momentum are all designed to bridge analysis and action, without losing sight of underlying realities.
The FSC archives project also continues to advance, with plans for a spring internship to help preserve and activate nearly a century of cycles research. This work matters because cycles are not a trading trick – they are a language of systems.
Ultimately, the Foundation’s role is not to replace human judgment with computation, but to align natural intelligence with artificial intelligence – tools that sharpen perception rather than obscure it. Cycles remind us that no abstraction escapes reality forever.
It’s about time,
Dr. Richard Smith
Chairman of the Board and Executive Director
Dear FSC Friends,
As we close out 2025, it’s clear that this past year marked a genuine watershed moment for the FSC as to the clarity of our purpose. So many attendees to Live in '25 told me that they felt like they had really found their tribe. That matters. Communities like this don’t appear by accident.
With that in mind, I’m pleased to share that Cycles in the City '26 will take place May 28-30, 2026, in New York City. We will once again gather in a setting designed for depth rather than scale – an environment where real work and real connections can happen.
Last year I was pleased to discover that Cycles in Science and Nature turned out to be our most popular day. This year, we’re drawing on that inspiration to lean even more strongly into serious scientific and conceptual exploration. The unifying theme for 2026 will be: cycles as natural intelligence.
Much of the focus in the cycles community, understandably, is on cycles as a predictive tool. What many of many of us are starting to glimpse, however, is that cycles are also indicators of health and even of learning in natural systems. Meanwhile, in today’s increasingly artificial systems, natural cycles are often suppressed – to the advantage of a few and the detriment of many.
At Cycles in the City 2026, we will explore cycles not merely as forecasting tools, but as visible signs of an underlying order – patterns through which life, markets, and natural systems learn, adapt, and respond over time. Markets will remain a crucial domain of study, including a focused examination of the approaching 18.6-year real estate cycle peak in 2026, but they will be situated within a broader inquiry into time, learning, and intelligence across systems.
Looking Back on 2025
Beyond the conference, 2025 was a year of consolidation and maturation for the Foundation:
- The Masters Working Group continued to deepen into a serious professional forum, distinguished by the quality of its dialogue and participants.
- Cycles TV expanded our reach while helping clarify what kind of conversations FSC is best suited to host.
- Our technology and analytical capabilities advanced meaningfully, reflecting a shift toward more rigorous, institutional-grade work.
- The ongoing archives project reaffirmed that FSC’s past is not something to be admired from a distance, but a living resource for present discovery.
Most importantly, the Foundation has grown into something more coherent: a place where cycles are studied not as mechanical curiosities, but as expressions of how systems behave in time – and a community of people seeking new insights and discoveries as to how our world really works.
Looking Ahead
In 2026, FSC will continue to focus on three guiding priorities:
- Cycles as Natural Intelligence — advancing a serious, non-reductionist understanding of
cycles. - Community and Participation — fostering a culture of shared inquiry and contribution.
- Application with Integrity — exploring markets and other systems scientifically.
Thank you for being part of this community and for helping shape what the FSC is becoming.
It’s about time,
Dr. Richard Smith
Chairman of the Board and Executive Director
Dear FSC Friends,
Over the past month, the Foundation has been alive with progress, participation, and purpose. I want to extend my heartfelt gratitude to all of you who are contributing to the work of the FSC. Your time, insight, and commitment are what truly move us forward. There’s much to report, so let’s get to it.
Masters Working Group – The Place To Be
The Masters Working Group (MWG) continues to be the beating heart of the Foundation – a meeting ground for serious traders, thinkers, and cycle practitioners.
This past month, MWG members enjoyed private sessions with Michael Howell and Larry Williams – two masters with deep, real-world experience and hard-won wisdom. Their presentations were outstanding, and the Q&A was rapid fire. What I found especially gratifying was that both Michael and Larry came away impressed by the caliber of our MWG Members. It’s truly a smart group – and getting smarter all the time.
Next up: Jake Bernstein joins us for what promises to be another masterclass in experience and technique. If you’ve ever wondered what it feels like to be part of a living laboratory of cycle analysis, the MWG is the place to be. MWG Members also receive access to recordings of past sessions.
Join the Masters Working Group.
Analyst Pro – Evolving in Real Time
Last week, Lars and I unveiled the newest suite of Analyst Pro capabilities. We’ve added a new proprietary indicator – Cycle Swing Momentum – along with massive new global data coverage spanning more than 150,000 securities.
There’s simply nothing else like the Analyst Pro platform for cycle analysis, and we’re thrilled to welcome all our new members.
Cycles TV
Our Cycles TV channel on YouTube continues to deliver outstanding free content. Lars interviewed Andrew Pancholi, and I spoke with Robert Prechter. We also welcomed back Jake Bernstein, who offered two excellent masterclasses on seasonality and cycles. Lars explored business cycles, P/E ratio cycles, and Bitcoin cycles, while I continued my big-picture series on monetary policy and liquidity cycles.
Cycles in the City ’26 – Save the Dates
We’re already preparing for next year’s Cycles in the City, returning to our superb venue in New York City on June 11–13, 2026. The space was such a success last year that we couldn’t pass up the chance to gather there again. One of its greatest strengths is its intimacy – it naturally fosters peer-to-peer engagement and genuine participation.
Attendance will be limited to keep the experience focused and interactive. Expect an official announcement in December – but for now, mark your calendars. This one will be special.
Looking Ahead
It’s been over six years since we undertook the revival of the FSC, and it’s deeply gratifying to see that hard work producing real momentum and engagement. That means a lot to me.
I believe that cycles are an expression of natural intelligence unfolding in time. That intelligence doesn’t exist without you – our Members. Action, taken in time, produces knowledge.
I was recently discussing this with our Market Strategy Director, D.R. Barton, who shared a story about a great trader he knew through the late Van Tharp. This trader, after exhaustive preparation before every trade, always said, “I know that I don’t know anything until I put down my first five.”
He was speaking to a profound truth: Everything changes once you enter the arena. Eisenhower has a similar take: “Plans are worthless, but planning is everything.” And we heard echoes of it again this month from Larry Williams during an MWG session. When I pressed Larry on the real secret to his success, he invoked a rodeo metaphor: “It’s being able to stay on the bull for eight seconds.”
All action in time requires endurance, involves risk and pain, and ultimately yields new knowledge and insight.
That’s a truth – and a cycle – that the FSC stands behind. We can and will continue to study cycles, but what matters most is the feedback loop of action and learning in time. That is the cycle we can only complete with you, our Members.
With appreciation,
Dr. Richard Smith
Chairman of the Board and Executive Director
Dear FSC Friends,
Cycles are everywhere. They pulse through markets, nature, and history itself – and this month at the Foundation for the Study of Cycles, we’ve seen that truth brought to life in remarkable ways.
We were honored to welcome Michael Howell, founder of CrossBorder Capital, to the Masters Working Group, where he and FSC’s own Lars von Thienen shared groundbreaking research on how global liquidity cycles drive Bitcoin’s rhythm. Their findings underscore a critical moment for markets and reflect the caliber of dialogue happening inside the MWG – our most elite membership circle, where top thinkers and practitioners gather twice a month.
Meanwhile, FSC Board Member Bill Sarubbi has laid out a timely market outlook for September 2025. Drawing on decennial patterns and historical seasonality, Bill shows why the odds favor higher equity markets into January – and why the final stretch of September may present opportunity.
We’re also delighted to bring back Navigating Seasonal Cycles with Jake Bernstein, highlighting three high-probability patterns you won’t want to miss. This series continues to be one of our most practical tools for traders and investors who want to put cycles directly to work.
Looking further back, Ron William reminds us that the Foundation is standing on nearly a century of cycles research. His reflections on Edward R. Dewey’s pioneering vision show how FSC continues to carry that torch into new frontiers, from markets to natural cycles. In his monthly vlog, Ron also explores how eclipses – symbolically and psychologically – can coincide with turning points, raising important questions about the months ahead.
Taken together, these contributions remind us of the richness of cycles research. From liquidity and Bitcoin to eclipses and equity markets, cycles provide a unifying framework that helps us see beyond noise into rhythm. As members and contributors, you are part of a living tradition that is both timeless and urgently relevant.
Let’s continue to build on that tradition – together.
Time rhymes,
Dr. Richard Smith
Chairman of the Board and Executive Director
Dear FSC Friends,
This past month at the Foundation for the Study of Cycles has been a vivid reminder that cycles aren’t just abstract patterns — they are the pulse of life itself. My recent interview with Brian Von Herzen of the Climate Foundation drove that home powerfully. We explored how restoring natural cycles is essential to the health of ecosystems, and how those same principles echo through economics, climate, and society. If you missed it, the conversation is well worth your time.
We’ve also been advancing our own tools for uncovering and tracking cycles. Analyst Pro Members now have access to our new Watchlist Scorecards — a feature designed to make cycles insights more actionable than ever.
On the publishing front, Edward R. Dewey’s classic Cycles: The Mysterious Forces That Trigger Events is about to reach a new audience, with a Korean edition soon to be released. It’s exciting to see Dewey’s work continue to find fresh resonance across cultures and continents.
Momentum is also building in our research community. Janne Miettinen, whose work was featured at our recent conference, has just received a three-year grant from the Radiance Trust, a strong vote of confidence in the relevance and rigor of cycles research.
And our Masters Working Group continues to set a high bar. Last month we hosted Valérie Gastaldy, whose market insights were nothing short of riveting. With only six spots left — and prices set to rise, now is the time to join this extraordinary circle of practitioners and researchers. Book a call with D.R. Barton to find out if the MWG is right for you.
Cycles connect the dots between disciplines, eras, and worlds. As a Foundation, we’re committed to not only studying those patterns but restoring them where they’ve been disrupted. Let’s continue building this community of people who see — and act — with the rhythm of reality in mind.
Time rhymes,
Dr. Richard Smith
Chairman of the Board and Executive Director
Dear FSC Friends,
Last week’s conference in New York City was nothing short of historic. For three days, over a hundred passionate cycles analysts, market veterans, and curious minds came together in an unprecedented gathering. It was the largest in-person event the Foundation for the Study of Cycles has hosted in decades – and the energy was electric.
We heard from true legends: Peter Eliades, Larry Williams, Sherman McClellan, Jake Bernstein, Bill Sarubbi, and many more. The depth and breadth of insights shared affirmed just how alive and essential cycles analysis remains – not just for markets, but for understanding the rhythms of the world itself.
What struck me most wasn’t just the brilliance of the presentations, but the sense of long-overdue reunion. It felt like a dam had broken – cycles people from all walks of life were eager to speak, share, and connect after years of isolation.
The enthusiasm for the FSC was overwhelming, and it’s clear that the Foundation’s work is resonating more than ever. New technologies, fresh collaborations (including with Tom Kehler and CrowdSmart), and a renewed commitment to long-term fundamental data are positioning the Foundation at the leading edge of the next wave of cycles research. The future has never looked brighter.
If you were there, you know the magic. If you weren’t, now is the time to plug in. Become a member, upgrade your involvement, or simply help spread the word. The Foundation is more than a repository of knowledge – it’s a living, breathing community. And together we’re building something lasting. Let’s ride the cycles ahead, not just as observers, but as active participants in shaping a more rhythmically aware future.
Time rhymes,
Dr. Richard Smith
Chairman of the Board and Executive Director
Dear FSC Friends,
I am getting more excited every day about our upcoming conference in NYC. It’s been gratifying to see so many serious cycles researchers heed the call to gather in person for the first time in over 30 years.
I think a lot of cycles researchers feel like they’ve been working in the wilderness and everyone’s been waiting to see if this thing is for real. It's definitely for real, and it’s getting more real by the day. If you’re serious about cycles, you really owe it to yourself to be there.
Speaking of getting real, I’m grateful to Neil Howe for introducing us to one of those cycles researchers who has been working in the wilderness – Janne Miettinen. If you haven’t seen my recent interview with Janne, go watch it now. Here is what Neil had to say about Janne’s work in his recent book The Fourth Turning is Here:
An estimated two-thirds of all mammalian species exhibit multi-year cycles of population expansion and contraction. These range from roughly four years for lemmings and voles to ten years for snowshoe hares to thirty-eight years for moose. Most of these cycles appear to be unrelated to climate, predators, or anything else in the environment. More intriguingly, many are linked to a matching behavioral pattern – for example, cycles of aggression, herding, migration, mating, and stress.
In effect, these animals act differently depending on when, during this repeating calendar, they are born. While biologists aren’t sure what drives these cycles, some have speculated that they may be triggered by periodic changes in the animals’ production of hormones and neurotransmitters and that these changes may be synchronized by pheromones and behavioral cues. No one has any idea whether this triggering does happen or could happen in humans. Research on this question, even for small mammals, remains in its infancy.
Those of you who have been reading these Chairman’s Letters for a while will recall that I have repeatedly talked about the work of Copley Amory and the Matamek Conference on biological cycles, which took place in 1931. Mr. Amory was the first Chairman of the FSC and in many ways was as big an influence on the FSC as the founder Edward R. Dewey.
Janne’s work on hormonal cycles is of great interest to the FSC because it aligns so well with the work of the Matamek biologists. It’s also of great interest to me personally because I believe that biology is gradually becoming a more important science to the world today than physics.
I was reminded of this while reading Andrew Lo’s Adaptive Markets. Mr. Lo, the head of the MIT Laboratory for Financial Engineering, had this to say: I hope to convince you that biologists should be reminding economists, “It’s the environment, stupid!”
Biology has been in the DNA of the FSC from day one and it is finally resurfacing again. Thanks to the support of a generous donor, Janne will be joining us in NYC. I hope you will too. It’s going to be an incredible environment!
Time rhymes,
Dr. Richard Smith
Chairman of the Board and Executive Director