The Political Problem Of Mankind Is To

When The Facts Change, I Change My Mind.

Most Men Love Money And Security More, And Creation And Construction Less, As They Get Older.

The Central Principle Of Investment Is To Go Contrary To The General Opinion, On The Grounds That If Everyone Agreed About Its Merits, The Investment Is Inevitably Too Dear And Therefore Unattractive.

One's Knowledge And Experience Are Definitely Limited And There Are Seldom More Than Two Or Three Enterprises At Any Given Time In Which I Personally Feel Myself Entitled To Put Full Confidence.

Of The Maxims Of Orthodox Finance None, Surely, Is More Anti-social Than The Fetish Of Liquidity, The Doctrine Of That It Is A Positive Virtue On The Part Of Investment Institutions To Concentrate Their Resources Upon The Holding Of 'liquid' Securities. It Forgets That There Is No Such Thing As Liquidity Of Investment For The Community As A Whole.