Quote

Professional investment may be likened to those newspaper competitions in which the competitors have to pick out the six prettiest faces from a hundred photographs, the prize being awarded to the competitor whose choice most nearly corresponds to the average preferences of the competitors as a whole.

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
Whole
Competition
Nearly
Preferences
Average
Professional
Prettiest
Choice
Newspapers
Competitor
Whose
Pick
Competitors
Hundred
Investment
Preference
Likened
Choices
Six
Newspaper
Competitions
Faces
Picks
Photographs
Awarded
May
Photograph
Prize
Corresponds

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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.
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I don't feel the least humble before the vastness of the heavens.
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The numeric system was invented to help man to put order in the chaos of the world.
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Everything is always decided for reasons other than the real merits of the case
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I can't remember my telephone number, but I know it was in the high numbers.
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The political problem of mankind is to combine three things: economic efficiency, social justice and individual liberty.
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The considerations upon which expectations of prospective yields are based are partly existing facts which we can assume to be known more or less for certain, and partly future events which can only be forecasted with more or less confidence.
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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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There is no harm in being sometimes wrong - especially if one is promptly found out.
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Most men love money and security more, and creation and construction less, as they get older.
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Perhaps it is historically true that no order of society ever perishes save by its own hand.
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It would not be foolish to contemplate the possibility of a far greater progress still.
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The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems - the problems of life and of human relations, of creation and behavior and religion.
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I am sure that the power of vested interests is vastly exaggerated compared with the gradual encroachment of ideas.
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In a regime of Free Trade and free economic intercourse it would be of little consequence that iron lay on one side of a political frontier, and labour, coal, and blast furnaces on the other. But as it is, men have devised ways to impoverish themselves and one another and prefer collective animosities to individual happiness.
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In truth, the gold standard is already a barbarous relic.
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The boom, not the slump, is the right time for austerity at the Treasury.
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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.
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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.
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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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