Quote#Death
The idea of wholesale shifts is for various reasons impracticable and…
Quote byJohn Maynard Keynes · 1883–1946
Commonly attributed — not confirmed in an authoritative edition. Cited on Wikiquote to: Memorandum for the Estates Committee, King's College, Cambridge, 8 May 1938. Quoted in Charles D. Ellis, ed., "Classics. An Investor’s Anthology" (Homewood, Ill.: Business One Irwin in association with the Institute of Chartered Financial Analysts, 1989), pg 263..
English (original)
the idea of wholesale shifts is for various reasons impracticable and indeed undesirable. Most of those who attempt to, sell too late and buy too late, and do both too often, incurring heavy expenses and developing too unsettled and speculative a state of mind, that, if it is widespread, has besides the grave social disadvantage of aggravating the scale of the fluctuations.
— John Maynard Keynes
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