There Is No Intrinsic Reason For The

As Time Goes On, I Get More And More Convinced That The Right Method Of 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.

Logic , Like Lyrical Poetry , Is No Employment For The Middle-aged

Thus, The Weight Of My Criticism Is Directed Against The Inadequacy Of The Theoretical Foundations Of The Laissez-faire Doctrine Upon Which I Was Brought Up And For Many Years I Taught

The Spectacle Of Modern Investment Markets Has Sometimes Moved Me Towards The Conclusion That To Make The Purchase Of An Investment Permanent And Indissoluble, Like Marriage, Except By Reason Of Death Or Other Grave Cause, Might Be A Useful Remedy For Our Contemporary Evils. For This Would Force The Investor To Direct His Mind To The Long-term Prospects And To Those Only.

The Markets Are Moved By Animal Spirits, And Not By Reason.