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.
John Maynard KeynesCapitalism is the extraordinary belief that the nastiest of men, for the nastiest of reasons, will somehow work for the benefit of us all.
John Maynard KeynesA conventional valuation which is established as the outcome of the mass psychology of a large number of ignorant individuals is liable to change violently as the result of a sudden fluctuation of opinion due to factors which do not really make much difference to the prospective yield; since there will be no strong roots of conviction to hold it steady.
John Maynard KeynesThe numeric system was invented to help man to put order in the chaos of the world.
John Maynard KeynesI feel no shame at being found still owning a share when the bottom of the market comesโฆI would go much further than that. I should say that it is from time to time the duty of a serious investor to accept the depreciation of his holdings with equanimity and without reproaching himself. โฆ An investorโฆshould be aiming primarily at long-period results, and should be solely judged by these.
John Maynard Keynes