Investing is an activity of forecasting the yield over the life of the asset; speculation is the activity of forecasting the psychology of the market.
JOHN MAYNARD KEYNESWhen the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.
More John Maynard Keynes Quotes
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It is the duty of the long-term investor to endure great losses with equanimity.
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Once doubt begins it spreads rapidly.
JOHN MAYNARD KEYNES -
The engine which drives enterprise is not thrift, but profit.
JOHN MAYNARD KEYNES -
The study of economics does not seem to require any specialised gifts of an unusually high order.
JOHN MAYNARD KEYNES -
There is no intrinsic reason for the scarcity of capital.
JOHN MAYNARD KEYNES -
For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.
JOHN MAYNARD KEYNES -
If we consistently act on the optimistic hypothesis, this hypothesis will tend to be realised; whilst by acting on the pessimistic hypothesis we can keep ourselves for ever in the pit of want.
JOHN MAYNARD KEYNES -
If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
JOHN MAYNARD KEYNES -
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 boom, not the slump, is the right time for austerity at the Treasury.
JOHN MAYNARD KEYNES -
In truth, the gold standard is already a barbarous relic.
JOHN MAYNARD KEYNES -
When somebody persuades me I am wrong, I change my mind.
JOHN MAYNARD KEYNES -
Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
JOHN MAYNARD KEYNES -
Conservatism leads nowhere; it satisfies no ideal.
JOHN MAYNARD KEYNES -
The avoidance of taxes is the only intellectual pursuit that still carries any reward.
JOHN MAYNARD KEYNES