Is He Talking about Facebook?

Is he talking about social media? Facebook? Twitter?

In an article Posted on March 8, 2017 by Don Shaughnessy

I was suffering from my chronic delusion that one good share is safer than ten bad ones, and I am always forgetting that hardly anyone else shares this particular delusion. – John Maynard Keynes

Mr Keynes wasn’t chatting about facebook or twitter. John Maynard Keynes is revered as an economist. His insights have stood the test of time. Most people don’t know he was also a brilliant money manager.

He earned that reputation while tending to the affairs of King’s College, Cambridge where he increased their endowment dramatically. Rivaling the endowment of the much wealthier Trinity College.

He wrote about the stock market and its affect on the macro-economy. This comment from The General Theory of Employment, Interest and Money (1935), Ch. 12 demonstrates the problem investors face when they over emphasize the stock market generated prices of a security.

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