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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

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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
Come
Average
Long
Essence
Rash
Behavior
Unconventional
Opinion
Investor
Eyes
Eccentric
Practice
Investors
Term
Investing
Eye
Criticism

More quotes by John Maynard Keynes

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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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Nothing mattered except states of mind, chiefly our own.
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The boom, not the slump, is the right time for austerity at the Treasury.
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It is ideas, not vested interests, which are dangerous for good or evil.
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The important thing for Government is not to do things which individuals are doing already, and to do them a little better or a little worse but to do those things which at present are not done at all.
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A study of the history of opinion is a necessary preliminary to the emancipation of the mind.
John Maynard Keynes
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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.
John Maynard Keynes
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It is astonishing what foolish things one can temporarily believe if one thinks too long alone, particularly in economics.
John Maynard Keynes
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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?
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When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exulted some of the most distasteful of human qualities into the highest virtues.
John Maynard Keynes
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Government machinery has been described as a marvelous labor saving device which enables ten men to do the work of one.
John Maynard Keynes
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But my lord, when we addressed this issue a few years ago, didn't you argue the other side? He said, That's true, but when I get more evidence I sometimes change my mind. What do you do?
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When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
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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Too large a proportion of recent mathematical economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.
John Maynard Keynes
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Newton was not the first of the age of reason, he was the last of the magicians.
John Maynard Keynes
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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.
John Maynard Keynes
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What an extraordinary episode in the economic progress of man that age was which came to an end in August, 1914!
John Maynard Keynes
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The central principle of investment is to go contrary to the general opinion, on the grounds that if everyone agreed about its merits, the investment is inevitably too dear and therefore unattractive.
John Maynard Keynes
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I expect to see the State, which is in a position to calculate the marginal efficiency of capital-goods on long views and on the basis of the general social advantage, taking an ever greater responsibility for directly organizing investments.
John Maynard Keynes