Money and Finance
Link to: Chapter 12. The State of Long-Term Expectation
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- Gmo's Q3 2014 Letter
Link to: GMO's Q3 2014 Letter GMO's 3Q 2014 Letter includes Ben Inker's "Is This Purgatory, Or Is It Hell?" and Jeremy Grantham's "Bubble Watch Update" and "The Beginning of the End of the Fossil Fuel Revolution (From Golden Goose...
- John Wasik On "keynes's Way To Wealth: Timeless Investment Lessons From The Great Economist"
LINK TO VIDEO .................. Related book: Keynes's Way to Wealth: Timeless Investment Lessons from The Great Economist Related articles: John Maynard Keynes’s Own Portfolio Not Too Dismal Retrospectives: John Maynard Keynes, Investment Innovator...
- Tim Harford: A Lesson From The Other ‘sage’ Of Investing
In his famous letter to Berkshire Hathaway shareholders in 1988, Warren Buffett declared: “When we own portions of outstanding businesses with outstanding managements, our favourite holding period is forever.” Compare this statement, apparently from...
- Robert Shiller: Animal Spirits Depend On Trust
The term "animal spirits," popularized by John Maynard Keynes in his 1936 book "The General Theory of Employment, Interest and Money," is related to consumer or business confidence, but it means more than that. It refers also to the sense of trust we...
- A Candidate For The Most Misused Quote Of All Time
"In the long run we are all dead." - John Maynard Keynes-The irony in Keynes' quote is not just that it is so often misinterpreted, but that it is generally misused in a way to defend a point that is the complete opposite of what Keynes was trying...
Money and Finance
The State of Long-Term Expectation
Chapter 12 (“The State of Long-Term Expectation”) of John Maynard Keynes’ The General Theory of Employment, Interest and Money is one that seems good to go back and re-read every now and then. Jeremy Grantham mentioned it in his interview with Charlie Rose, and Warren Buffett has mentioned it on several occasions (and mentioned the quote below in his 1991 Letter).
Link to: Chapter 12. The State of Long-Term Expectation
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Related Keynes quote (which he wrote in a letter to a business associate): “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.”
- Gmo's Q3 2014 Letter
Link to: GMO's Q3 2014 Letter GMO's 3Q 2014 Letter includes Ben Inker's "Is This Purgatory, Or Is It Hell?" and Jeremy Grantham's "Bubble Watch Update" and "The Beginning of the End of the Fossil Fuel Revolution (From Golden Goose...
- John Wasik On "keynes's Way To Wealth: Timeless Investment Lessons From The Great Economist"
LINK TO VIDEO .................. Related book: Keynes's Way to Wealth: Timeless Investment Lessons from The Great Economist Related articles: John Maynard Keynes’s Own Portfolio Not Too Dismal Retrospectives: John Maynard Keynes, Investment Innovator...
- Tim Harford: A Lesson From The Other ‘sage’ Of Investing
In his famous letter to Berkshire Hathaway shareholders in 1988, Warren Buffett declared: “When we own portions of outstanding businesses with outstanding managements, our favourite holding period is forever.” Compare this statement, apparently from...
- Robert Shiller: Animal Spirits Depend On Trust
The term "animal spirits," popularized by John Maynard Keynes in his 1936 book "The General Theory of Employment, Interest and Money," is related to consumer or business confidence, but it means more than that. It refers also to the sense of trust we...
- A Candidate For The Most Misused Quote Of All Time
"In the long run we are all dead." - John Maynard Keynes-The irony in Keynes' quote is not just that it is so often misinterpreted, but that it is generally misused in a way to defend a point that is the complete opposite of what Keynes was trying...