John Maynard
John Maynard
writing wind glory
Economists must leave to Adam Smith alone the glory of the Quarto, must pluck the day, fling pamphlets into the wind, write always sub specie temporis , and achieve immortality by accident, if at all.
information conclusion
When my information changes, I alter my conclusions. What do you do, sir?
money investing investment
Markets can remain irrational longer than you can remain solvent.
banking pounds problem
If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.
succeed reputation failing
Worldly wisdom teaches that it is better for reputation to fail conventionally than to succeed unconventionally.
ideas evil dangerous
It is ideas, not vested interests, which are dangerous for good or evil.
world investment irrational
There is nothing so disastrous as a rational investment policy in an irrational world.
lakes people promise
Canada is a place of infinite promise. We like the people, and if one ever had to emigrate, this would be the destination, not the U.S.A. The hills, lakes and forests make it a place of peace and repose of the mind, such as one never finds in the U.S.A.
doubt spread
Once doubt begins it spreads rapidly.
wise successful investing
Successful investing is anticipating the anticipations of others.
work-out world lines
The classical theorists resemble Euclidean geometers in a non-Euclidean world who, discovering that in experience straight lines apparently parallel often meet, rebuke the lines for not keeping straight as the only remedy for the unfortunate collisions which are occurring. Yet, in truth, there is no remedy except to throw over the axiom of parallels and to work out a non-Euclidean geometry.
past light together
The master-economist must possess a rare combination of gifts. He must reach a high standard in several different directions and must combine talents not often found together. He must be mathematician, historian, statesman, philosopher - in some degree. He must understand symbols and speak in words. He must contemplate the particular in terms of the general, and touch abstract and concrete in the same flight of thought. He must study the present in the light ofthe past for the purposes of the future
mistake believe thinking
As time goes on, I get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes. 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. . . . One's knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.
scarcity reason capitalism
There is no intrinsic reason for the scarcity of capital.