Markets Can Remain Irrational Longer Than You

Businessmen Have A Different Set Of Delusions From Politicians; And Need, Therefore, Different Handling. They Are, However, Much Milder Than Politicians, At The Same Time Allured And Terrified By The Glare Of Publicity....you Could Do Anything You Like With Them, If You Would Treat Them (even The Big Ones) Not As Wolves And Tigers, But As Domestic Animals By Nature, Even Though They Have Been Badly Brought Up And Not Trained As You Would Wish.

Investing Is An Activity Of Forecasting The Yield Over The Life Of The Asset; Speculation Is The Activity Of Forecasting The Psychology Of The Market.

The Power To Become Habituated To His Surroundings Is A Marked Characteristic Of Mankind.

I Know Of Only Three People Who Really Understand Money. A Professor At Another University. One Of My Students. And A Rather Junior Clerk At The Bank Of England.

In Truth, The Gold Standard Is Already A Barbarous Relic. All Of Us, From The Governor Of The Bank Of England Downwards, Are Now Primarily Interested In Preserving The Stability Of Business, Prices, And Employment, And Are Not Likely, When The Choice Is Forced On Us, Deliberately To Sacrifice These To Outworn Dogma, Which Had Its Value Once, Of 3 Pounds, 17 Shill Ings, 10 1/2 Pence Per Ounce. Advocates Of The Ancient Standard Do Not Observe How Remote It Now Is From The Spirit And The Requirements Of The Age. A Regulated Nonmetallic Standard Has Slipped In Unnoticed. It Exists.