To suppose that safety-first consists in having a small gamble in a large number of different companies where I have no information to reach a good judgment, as compared with a substantial stake in a company where one's information is adequate, strikes me as a travesty of investment policy.

They offer me neither food nor drink - intellectual nor spiritual consolation... [Conservatism] leads nowhere; it satisfies no ideal; it conforms to no intellectual standard, it is not safe, or calculated to preserve from the spoilers that degree of civilization which we have already attained.

If you owe your bank a hundred pounds, you have a problem. But if you owe a million, it has.

It is better to be roughly right than precisely wrong.

When somebody persuades me I am wrong, I change my mind.

Economics is a very dangerous science.

The Economic Problem...the problem of want and poverty and the economic struggle between classes and nations, is nothing but a frightful muddle, a transitory and unnecessary muddle.