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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 Keynes

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John Maynard Keynes
Age: 62 †
Born: 1883
Born: June 5
Died: 1946
Died: April 21
Businessperson
Diplomat
Economist
Mathematician
Non-Fiction Writer
Philosopher
Politician
Professor
Lord Keynes
Baron Keynes of Tilton
Yield
Psychology
Investing
Market
Forecasting
Activity
Asset
Business
Speculation
Life
Assets
Finance

More quotes by John Maynard Keynes

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By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.
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Education: the inculcation of the incomprehensible into the indifferent by the incompetent.
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It is generally agreed that casinos should, in the public interest, be inaccessible and expensive. And perhaps the same is true of Stock Exchanges.
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Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits-a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.
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Perhaps a day might come when there would be at last be enough to go round, and when posterity could enter into the enjoyment of our labors.
John Maynard Keynes
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For my own part, I believe that there is social and psychological justification for significant inequalities of incomes and wealth.
John Maynard Keynes
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If economists could manage to get themselves thought of as humble, competent people on a level with dentists, that would be splendid.
John Maynard Keynes
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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.
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When somebody persuades me I am wrong, I change my mind.
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The key to selecting the winner isn't choosing the face you think is the most beautiful but rather the face other people will pick
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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.
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Men will not always die quietly.
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How long will it be necessary to pay City men so entirely out of proportion to what other servants of society commonly receive for performing social services not less useful or difficult?
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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
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The duty of saving became nine-tenths of virtue and the growth of the cake the object of true religion.
John Maynard Keynes
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The destruction of the inducement to invest by an excessive liquidity-preference was the outstanding evil, the prime impediment to the growth of wealth, in the ancient and medieval worlds.
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How can I adopt a creed which, preferring the mud to the fish, exalts the boorish proletariat above the bourgeois and the intelligentsia who, with whatever faults, are the quality in life and surely carry the seeds of all human advancement?
John Maynard Keynes
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I wish I'd drunk more champagne.
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The principle objectives in life are love, the creation and enjoyment if aesthetic experience, the pursuit of knowledge. Love comes a long way first.
John Maynard Keynes
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Those, who are strongly wedded to what I shall call 'the classical theory', will fluctuate, I expect, between a belief that I am quite wrong and a belief that I am saying nothing new. It is for others to determine if either of these or the third alternative is right.
John Maynard Keynes