A Quote by John Maynard Keynes
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.
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As time goes on, I get more and more convinced that the right method in 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. It is a mistake to think that one limits one's risk by spreading too much between enterprises about which one knows little and has no reason for special confidence. . . . 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.
It is astonishing how much more anxious people are to lengthen life than to improve it; and as misers often lose large sums of money in attempting to make more, so do hypochondriacs squander large sums of time in search of nostrums by which they vainly hope they may get more time to squander.
Hypochondriacs squander large sums of time in search of nostrums by which they vainly hope they may get more time to squander.
When I got to GM they were using a matrix method of management which means everybody has more than one boss. I first heard about that system many years ago. It's supposed to help with collaboration, but my assessment is that it's pretty hard to get geared for action that way.
Who would you trust right now? Which bank would you trust? Which investment would you trust? Do you really want to put your money; do you want to suffer more of these losses that we just had? You know, these volatility that we see is just unexplainable by any rational standards. Nobody has any clue about how to explain this, and nobody wants to experience that. So, we hold more money back, we don't necessarily want to invest in the market and by default, people are saving more.
A man’s ignorance sometimes is not only useful, but beautiful - while his knowledge, so called, is oftentimes worse than useless, besides being ugly. Which is the best man to deal with - he who knows nothing about a subject, and, what is extremely rare, knows that he knows nothing, or he who really knows something about it, but thinks that he knows all?
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.
Man knows that there are in the soul tints more bewildering, more numberless, and more nameless that the colors of an autumn forest....Yet he seriously believes that these things can every one of them , in all their tones and semi-tones, in all their blends and unions, be accurately represented by an arbitrary system of grunts and squeals. He believes that an ordinary civilized stockbroker can really produce out of his own inside noises which denote all the mysteries of memory and all the agonies of desire.
I had a friend who was the King's surgeon in England. One day I asked him what makes a great surgeon. He replied, "What distinguishes a great surgeon is his knowledge. He knows more than other surgeons. During an operation he finds something which he wasn't expecting, recognizes it and knows what to do about it." It's the same thing with advertising people. The good ones know more. How do you get to know more? By reading books about advertising. By picking the brains of people who know more than you do. From the Magic Lanterns. And from experience.
For my part, I am convinced that the method of teaching which approaches most nearly to the method of investigation is incomparably the best; since, not content with serving up a few barren and lifeless truths, it leads to the stock on which they grew.
A dogmatic tone is generally inspired by abysmal ignorance. The man who knows nothing thinks he is informing others of something which he has that moment learnt; the man who knows a great deal can scarcely believe that people are ignorant of what he is telling them, and speaks more diffidently.
The scientific method is the ultimate elegant explanation. It is the ultimate foundation for anything worthy of the name "explanation". It makes no sense to talk about explanations without having a process for deciding which are right and which are wrong, and in a broad sense that is what the scientific method is about. All of the other wonderful explanations celebrated here owe their origin and credibility to the process by which they are verified-the scientific method.
With the Tube, it just needs more investment. Maybe lengthening some of the platforms to get more carriages in, things like that. It just needs more investment put into it.
The artist who gives up an hour of work for an hour of conversation with a friend knows that he is sacrificing a reality for something that does not exist (our friends being friends only in the light of an agreeable folly which travels with us through life and to which we readily accommodate ourselves, but which at the bottom of our hearts we know to be no more reasonable than the delusion of the man who talks to the furniture because he believes that it is alive.).
I do believe that India needs a lot more foreign direct investment than we've got, and we should have the ambition to move in the same league many other countries in our neighborhood are moving. We may not be able to reach where the Chinese are today, but there is no reason why we should not think big about the role of foreign direct investment, particularly in the areas relating to infrastructure, where our needs for investment are very large. We need new initiatives, management skills, and I do believe that direct foreign investment can play a very important role.
Amid all change, we desire something permanent; amid all variety, something stable; amid all progress, some central unity of life; something which deepens as we ascend; which roots itself as we advance; which grows more and more tenacious of the old, while becoming more and more open to the new.
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