Clayton S. Rose, who was inaugurated as Bowdoin’s fifteenth president on October 17, 2015, has consistently underscored the value and essential importance of a liberal arts education for living lives of meaning, for thoughtful engagement in civic life, and for satisfaction and success in work.
Originally from San Rafael, California, Rose earned his undergraduate degree (1980) and MBA (1981) at the University of Chicago. In 2003, following a highly successful twenty-year leadership and management career in finance, he enrolled in the doctoral program in sociology at the University of Pennsylvania to study issues of race in America, earning his Master’s Degree in 2005 and his PhD with distinction in 2007.
Prior to his appointment as president of Bowdoin, Rose served on the faculty of the Harvard Business School, where he wrote and taught on moral leadership and ethics, among other topics. At Bowdoin, he has taught “The Moral Leader,” an interdisciplinary seminar for first-year students that considers the challenge of leadership through the reading and analysis of works of fiction and nonfiction.
Rose is a member of the board of trustees of the Howard Hughes Medical Institute, the nation’s largest private supporter of academic biomedical research. He is also a member of the board of directors of Bank of America.
His wife of thirty-five years, Julianne H. Rose, originally from Rosemont, Pennsylvania, earned her undergraduate degree in biology magna cum laude at Boston College and her MBA at the University of Chicago. She began her career in finance, held elected office at the municipal level for many years, and now owns a business in Maine.
Clayton and Julianne Rose have two sons....one lives in Washington, DC, with his wife, while the other lives in New York City with his wife. Julianne and Clayton live on the Bowdoin campus with their Labrador retriever, Emmie.
On Friday, we met a guy who takes the long view. Bob Dickey was in Portland from Minnesota to speak at our club. Described by President Amy as “a legend in the investment community,” he is the technical strategist – the Chart Guy - at RBC, the Royal Bank of Canada. His work is to review trends in the market and to try to divine broad market directions for the benefit of his company’s network of 3000 investment advisors.
Two big questions underlie all of Bob’s work: what is the trend, and what is the sentiment? Bob spends most of his time reviewing headlines, reviewing market news, reviewing activity. While the general public thinks that the market could be on the brink of a decline, Bob thinks that the current bull market will continue, and bases this on his study of trends since the Great Depression. He believes that based on historical trends, the markets will be rising into 2020, mostly as the result of strong earnings. He also noted that if most people think the market will decline, it won’t, and that a market pullback is more likely to happen when people are not expecting it. When everyone is really sure the market is headed up, watch out.
As growth continues for the long term, people get overconfident at the end of the bull market cycle. Buildup leads to euphoria, then bubbles form, and then they pop.
He pointed out that in the short-term, markets have tended to rise and then go sideways, not doing much, before rising again. Over the course of a decade, a market might spend five years rising and five years in a flat position. Declines, sometimes sharp ones, do occur, but they tend to be offset as overall trends tend to be upwards. This same pattern of rise, then flat, then rising again is repeated on a macro level, with a cycle that might last 35 years - half of that rising steadily, and half of that characterized by flat or uncertain times. Of course if you have a very short window and need to get out of the market at a particular time, the consequences of these oscillations can be severe. But if you have time, he advises that you sit tight and things will recover, as they have done since the Great Recession.
He believes the market will quadruple in another decade. He expects 12 percent on average, which is a little better than the historical average. He sees this increase as being driven by sectors, including Health Care and Emerging Markets. He pointed out that the trends are fairly hard to deny: markets are up 52% of the days. In 95 years, 74% of the years are up year over year. People remember the very bad times, but there is a lot of growth between those.
You’ll have to tune in in 2029 to see if he is correct, but if past trends continue to hold, there appears to be a good chance that he will be.
(Photo L-R: Bob Dickey and President Amy Chipman.)
Last Friday at The Clarion, President Amy Chipman welcomed 32 members and 1 guest. PP Alan Nye(photo at right) started us out with a thoughtful and, at times, comical look at our culture’s use of the term “Indian Summer,” which was apropos on an 80-degree late September day; Ron Bennett led the pledge to the flag and PP Bill Blount led us in a rousing rendition of “America the Beautiful.”
President Amy(at left) read a nice thank you note from Learning Works, thanking our club for our recent efforts in providing backpacks (stuffed with school supplies) for youngsters headed off to school.
PP Laura Young reminded us that the District-wide “RotaryRocks” Conference is coming up on Saturday, October 5th at USM from 9:00 to 4:00. This event should be fun and full of information. The Club will reimburse for the admission fee of $20, so plan to make an appearance and learn more about what Rotary can offer. For more information and to register, go to: rotary7780.org.
Justin Lamontagne(on left in photo) ran the weekly raffle. The speaker pulled Bruce Moore’s(on right in photo) name out of the holding vessel, but Bruce missed out on $924 when he chose the Jack of Diamonds, instead of the elusive Queen of Hearts.
With the scheduled member for the “Rotary Minute” a late scratch, PP Bowen Depke(photo at right) took to the podium after some good-natured prodding from Club members (it doesn't take much prodding to get a PP to take to the microphone). Bowen told his story of meeting PP Peter Goffin at Seadogs games and, after a number of Rotary luncheon meetings as Peter’s guest, Bowen capitulated and joined our cozy group, which was one of the best moves he’s made since arriving in Vacationland. Bowen, of course, ended up as our club president during our very important centennial anniversary year, handling the never-ending duties with the greatest of aplomb.
“The Greenhouse Program” was discussed from the podium by Ben Millick, who has been working hard with our mentoring program thru the New Mainer Task Force within the Club. This initiative has brought about six months of mentoring to five immigrant Mainers who have been seeking guidance as they attempt to set up new businesses within our local community. 2nd VP Bob Martin, a vibrant and enthusiastic member of the task force, has seen his mentee already open his business and the other willing participants in the program are moving forward, led by Rotarian guidance and input. This sounds like a perfect opportunity to really make a difference, so contact Ben if you’d like to help at: (bmillick@clarkinsurance.com)
Charlie Frair gave us an update and heartfelt thanks for our efforts with the “Flags for Heroes” project, which was recently showcased for one week in the rotunda of The Maine Mall. With very little lead-time, Charlie and Paul Tully, and so many others, pulled this project together. With the typical “what can I do” effort by so many within the club, we were able to get 100 full-sized American flags up on display and sponsored within just a few weeks. Although not seen as a “fundraiser,” but rather a unique opportunity to thank those in our lives we see as real heroes, the project nonetheless will pull in between 4 and 5 thousand dollars. We should all be very proud of what we accomplished with this simply amazing effort. Great job all! (See full story and photos on our Club home page website: portlandrotary.org.)
Now that the “Flags” project has been put to bed, so to speak, it’s time for Charlie and Paul to begin the hype for our one-of-a-kind Veteran’s Luncheon to be held on Friday, November 8th at Seasons Event & Conference Center, Ramada Plaza, 155 Riverside St, Portland. This event gets bigger and better every year and this year will feature a national music act and a humorist….so please hold the date and also plan on helping out the day before and the morning of the event, as we’ll need many hands to make easy work of the project. Please register on our website (portlandrotary.org) and know that this will sell-out very quickly. All volunteers must also register.Gracie Johnston(in photo at left)once again asked for volunteers to help at The Preble Street Resource Center this Wednesday, Sep. 25th, from 3:30 to 6:30 pm for our prepping & serving of dinner to the people in need.Bruce Moore spoke on behalf of the Club’s Opioid Task Force and let us know that the District is sponsoring an event on Wednesday, September 25th from 7:30 to 10:30 at Vinegar Hill Music Hall in Arundel. With 70% of the workforce in Maine touched by the Opioid crisis, this seminar should be eye-opening and allow for opportunities to join in with our club and the district in the ongoing efforts to make an impact.Our “Harvest Moon Dance” will be on Saturday, October 26th in Cape Elizabeth. More details will follow from Mike Fortunato(photo at right) and his committee but, for now, please hold the date and plan on a great time that evening. Mike is also looking for more volunteers to help out at Long Creek Youth Development Center. For more information, contact Mike (michael.k.fortunato@gmail.com) or PP Jim Willey (jimandbarbarawilley@gmail.com).
Invocation: Alan Levenson Program Reporter: Tom Talbott
Bits & Pieces Reporter: Jake Bourdeau
Photographer: Paul Gore Registration/Greeter: TBD Sell Meal Tickets: Loretta Rowe Raffle: Matt Tassey Collect Meal Tickets:Mike Robinson Sgt-at-Arms: Jim Willey
If you would like to mark your calendars, we are scheduled at the following locations through 2019:
2019 Sep 27 - The Clarion
Oct 04 - The Clarion Oct 11 - The Clarion Oct 18 - The Clarion Oct 25 - TBD Service Project
Nov 01 - The Clarion Nov 08 - Seasons Event & Conference Ctr Ramada Plaza, 155 Riverside St, Portland Nov 15 - The Clarion Nov 22 - The Clarion Nov 29 - NO MEETING - Thanksgiving
Dec 06 - The Clarion Dec 13 - The Clarion Dec 20 - The Clarion Dec 27 - NO MEETING - Christmas
The following items are needed on an on-going basis. Please feel free to bring them to a meeting where we will collect and distribute them to the appropriate projects.
Crutches4Africa - Crutches, canes, folding walkers and wheelchairs to be shipped to Africa. Contact: Erik Greven at: egrev95@gmail.com
Toiletries for the Shelters - Collect those tiny bottles of toiletries you are paying for during your next hotel visit and bring them home for members of our society who find themselves staying at a shelter and in need of personal hygiene products.
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Clayton S. Rose, who was inaugurated as Bowdoin’s fifteenth president on October 17, 2015, has consistently underscored the value and essential importance of a liberal arts education for living lives of meaning, for thoughtful engagement in civic life, and for satisfaction and success in work.
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Last Friday at The Clarion, President Amy Chipman welcomed 32 members and 1 guest. PP Alan Nye (photo at right) started us out with a thoughtful and, at times, comical look at our culture’s use of the term “Indian Summer,” which was apropos on an 80-degree late September day; Ron Bennett led the pledge to the flag and PP Bill Blount led us in a rousing rendition of “America the Beautiful.”.jpg)
PP Laura Young reminded us that the District-wide “RotaryRocks” Conference is coming up on Saturday, October 5th at USM from 9:00 to 4:00. This event should be fun and full of information. The Club will reimburse for the admission fee of $20, so plan to make an appearance and learn more about what Rotary can offer. For more information and to register, go to: 
With the scheduled member for the “Rotary Minute” a late scratch, PP Bowen Depke (photo at right) took to the podium after some good-natured prodding from Club members (it doesn't take much prodding to get a PP to take to the microphone). Bowen told his story of meeting PP Peter Goffin at Seadogs games and, after a number of Rotary luncheon meetings as Peter’s guest, Bowen capitulated and joined our cozy group, which was one of the best moves he’s made since arriving in Vacationland. Bowen, of course, ended up as our club president during our very important centennial anniversary year, handling the never-ending duties with the greatest of aplomb.
“The Greenhouse Program” was discussed from the podium by Ben Millick, who has been working hard with our mentoring program thru the New Mainer Task Force within the Club. This initiative has brought about six months of mentoring to five immigrant Mainers who have been seeking guidance as they attempt to set up new businesses within our local community. 2nd VP Bob Martin, a vibrant and enthusiastic member of the task force, has seen his mentee already open his business and the other willing participants in the program are moving forward, led by Rotarian guidance and input. This sounds like a perfect opportunity to really make a difference, so contact Ben if you’d like to help at: (.jpg)
Gracie Johnston (in photo at left)once again asked for volunteers to help at The Preble Street Resource Center this Wednesday, Sep. 25th, from 3:30 to 6:30 pm for our prepping & serving of dinner to the people in need..jpg)
Our “Harvest Moon Dance” will be on Saturday, October 26th in Cape Elizabeth. More details will follow from Mike Fortunato (photo at right) and his committee but, for now, please hold the date and plan on a great time that evening. Mike is also looking for more volunteers to help out at Long Creek Youth Development Center. For more information, contact Mike (