Warren Buffett, despite earning a master of science degree in economics from Columbia University in 1951, told a CNBC interviewer in 2016, “I don’t pay any attention to what economists say, frankly.” He added: “You have all these economists with these 160 IQs who spent their life studying it. Can you name me one super-wealthy economist who’s ever made money out of securities?”
He added: “You have all these economists with these 160 IQs who spent their life studying it. Can you name me one super-wealthy economist who’s ever made money out of securities?”
25 years of serious outperformance…
https://larrymacdon.substack.com/p/john-maynard-keynes-econo…
According to a 2015 study, Keynes the Stock Market Investor: A Quantitative Analysis, Keynes outperformed the market when he managed a discretionary portfolio for an endowment fund at King’s College on the campus of the University of Cambridge. He generated an average annual return of 16.0% from 1921 to 1946, compared to the market’s average annual return of 10.4%.
According to a 2015 study, Keynes the Stock Market Investor: A Quantitative Analysis, Keynes outperformed the market when he managed a discretionary portfolio for an endowment fund at King’s College on the campus of the University of Cambridge. He generated an average annual return of 16.0% from 1921 to 1946, compared to the market’s average annual return of 10.4%.
I’m from England and listen to the BBC quite a lot. They have just produced a musical drama about Keynes: