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An investor who proposes to ignore near-term market fluctuations needs greater resources for safety and must not operate on so large a scale, if at all, with borrowed money.

John Maynard Keynes

The division of the spoils between the victors will also provide employment for a powerful office, whose doorsteps the greedy adventurers and jealous concession hunters of twenty or thirty nations will crowd and defile.
JOHN MAYNARD KEYNES

Crowd Division Employment Nation Provide Spoil
The difficulty lies, not in the new ideas, but in escaping the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds.
JOHN MAYNARD KEYNES

Difficult Escape Ideas Lying Mindset Ourselves
To suggest social action for the public good to the city London is like discussing The Origin of Species to a Bishop sixty years ago.
JOHN MAYNARD KEYNES

Action Discussion Origin Public Social
It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence.
JOHN MAYNARD KEYNES

Confidence Limitation Mistake Reason Special Thinking
The glory of the nation you love is a desirable end, – but generally to be obtained at your neighbor’s expense.
JOHN MAYNARD KEYNES

Desire Glory Love Nation Yourself
Gold is a relic from a time when government’s were less trustworthy in these matters (currency debasement) than they are now.
JOHN MAYNARD KEYNES

Currency Gold Government Time Trust
In the long run we are all dead.
JOHN MAYNARD KEYNES

Death Philosophy Wasted Time
It is Enterprise which build and improves the world’s possessions. If Enterprise is afoot, Wealth accumulates whatever may be happening to Thrift; and if Enterprise is asleep, Wealth decays, whatever Thrift may be doing.
JOHN MAYNARD KEYNES

Build Enterprise Improve Possession Sleep Thrift Wealth World
Well, when I get new information, I rethink my position. What, sir, do you do with new information?
JOHN MAYNARD KEYNES

Information Myself Position Thinking Yourself
By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
JOHN MAYNARD KEYNES

Citizenship Important Inflation Process Secret
When my information changes, I alter my conclusions. What do you do, sir?
JOHN MAYNARD KEYNES

Change Conclusion Information Yourself
Never in history was there a method devised of such efficacy for setting each country’s advantage at variance with its neighbours’ as the international gold (or, formerly, silver) standard.
JOHN MAYNARD KEYNES

Gold History International Method Standard
It is investment, i.e. the increased production of material wealth in the shape of capital goods, which alone increases national wealth.
JOHN MAYNARD KEYNES

Capital Investment National Production Wealth
As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.
JOHN MAYNARD KEYNES

Believe Fair Investment Management Myself Right Time
We will not have any more crashes in our time.
JOHN MAYNARD KEYNES

Crash Ourselves Time
A speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.
JOHN MAYNARD KEYNES

Aware Himself Investor Risk Run

An investor who proposes to ignore near-term market fluctuations needs greater resources for safety and must not operate on so large a scale, if at all, with borrowed money.

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An investor who proposes to ignore near-term market fluctuations needs greater resources for safety and must not operate on so large a scale, if at all, with borrowed money.

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Popular Authors

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