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He has lived through a cycle of triumphs, setbacks and near misses.
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"None of them has ever lived through a bear cycle," he said.
Rodney Perkins had lived through a similar cycle with medical device companies, which were in fashion for a few years until, inevitably, there were too many of them.
A regulator who has lived through a few cycles should be able to spot the danger, without the need for a sophisticated model.
I've never lived through an election cycle where media commentary mattered less than in the 2016 campaign.
Even seasoned investors who have lived through a few harrowing market cycles can be excused for feeling panicky lately.
Of course, there is a big difference between wearing crumpled, toothpaste-stained, Hello Kitty-PJsnthats thavehave lived through a few nights' worth of sleep cycles, and consciously making the decision to make a style statement with a pair of freshly laundered pyjamas.
These cycles become pretty easy to recognize once you've lived through a few of them.
They have lived through a lot.
Have you lived through a company collapse?
"We lived through a devastating financial crisis.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com