John Templeton, the legendary fund manager, famously said, “The four most dangerous words in investing are: This time it’s different.” That warning was ignored by those in 1999 who believed profits didn’t matter in the internet age and those in 2007 who thought housing prices would rise for years to come.

Templeton’s warning could apply to the Arab-Israeli conflict, too. Are we going to invest too much hope in the recent moves toward Middle Eastern peace in the belief that this time it’s different? On Oct. 13, President Donald Trump declared: “Together we’ve achieved what everybody said was impossible. At long last we have peace in the Middle East.”

Is he right? After a century of violence and disappointment, will Israel and its neighbors see long-term peace? I sure hope Trump’s advisers

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