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It is the long-term investor, who will in practice come in for the most criticism… For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion.

John Maynard Keynes

The forces of the nineteenth century have run their course and are exhausted.
JOHN MAYNARD KEYNES

Course Exhaust Focus Run
Successful investing is anticipating the anticipations of others.
JOHN MAYNARD KEYNES

Anticipation Investment Success
All production is for the purpose of ultimately satisfying a consumer.
JOHN MAYNARD KEYNES

Consumer Purpose Satisfaction
Pyramid-building, earthquakes, even wars may serve to increase wealth, if the education of our statesmen on the principles of the classical economics stands in the way of anything better.
JOHN MAYNARD KEYNES

Build Increase War Wealth
It is the duty of the long-term investor to endure great losses with equanimity.
JOHN MAYNARD KEYNES

Greatness Investment Loss Responsibility
A sound banker, alas, is not one who foresees danger and avoids it, but one who, when he is ruined, is ruined in a conventional way along with his fellows, so that no one can really blame him.
JOHN MAYNARD KEYNES

Avoid Bank Blame Dangerous Himself Ruin Sound
It would be foolish, in forming our expectations, to attach great weight to matters which are very uncertain.
JOHN MAYNARD KEYNES

Attachment Certain Expectation Fools
Ideas, knowledge, art, hospitality, travel – these are things which should in their nature be international. But let goods be homespun whenever it is reasonably and conveniently possible and above all let finance be primarily national.
JOHN MAYNARD KEYNES

Art Finance Hospitality Ideas International Knowledge National Possible
If you owe your bank manager a thousand pounds, you are at his mercy. If you owe him a million pounds, he is at your mercy.
JOHN MAYNARD KEYNES

Bank Manager Mercy Rich Yourself
The disruptive powers of excessive national fecundity may have played a greater part in bursting the bonds of convention than either the power of ideas or the errors of autocracy.
JOHN MAYNARD KEYNES

Error Excessive Ideas National Power
Economics is a very dangerous science.
JOHN MAYNARD KEYNES

Dangerous Economics Science
The engine which drives enterprise is not thrift, but profit.
JOHN MAYNARD KEYNES

Drive Profit Thrift
One blames politicians, not for inconsistency but for obstinacy. They are the interpreters, not the masters, of our fate. It is their job, in fact, to register the fact accomplished.
JOHN MAYNARD KEYNES

Accomplishment Blame Fact Master Obstinate Politician
Whenever you save five shillings you put a man out of work for a day.
JOHN MAYNARD KEYNES

Day Save Work Yourself
Capitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.
JOHN MAYNARD KEYNES

Belief Benefit Capital Man Nasty Reason Work
When my information changes, I alter my conclusions. What do you do, sir?
JOHN MAYNARD KEYNES

Change Conclusion Information Yourself

It is the long-term investor, who will in practice come in for the most criticism… For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion.

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It is the long-term investor, who will in practice come in for the most criticism… For it is the essence of his behavior that he should be eccentric, unconventional, and rash in the eyes of average opinion.

Related Topics

Popular Authors

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