Thursday, 27 February 2014
Read? Warren Buffett's Secret Sauce
CW8888: This is something retail traders (speculators) haven't learnt enough! Decades of wisdom in it!
Although his fame as an economist is global, Keynes’s stunning success as a professional investor is not well known, even among economists.
When I asked Prof. Paul Krugman after a Chicago talk last year if he was familiar with Keynes’s investment record, he replied that he wasn’t familiar with that part of his life. And this coming from a Nobel Prize winner who is one of the world’s leading Keynesians!
Utlimately, it doesn’t matter who takes the credit for long-term investing principles that build wealth without churning your stomach at every market turn.
If you seek long-term value in businesses that will be around in every market cycle, generate cash and dividends, you will probably make money. The key to success is not only holding onto those stocks through thick and thin, but holding onto the idea of selecting those investments with great care.