---
title: "1 Believed Believed Quotes By John Kay"
description: "1 Believed Believed quotes by John Kay. Plus more from John Kay and more Believed Believed sayings from other authors."
image: "https://sms4smile.com/quotes/i/598/john-kay-54748_quote_what-was-true-was-what-was-believed-and_1733138.jpg"
---

> [“What was true was what was believed, and what was believed was true. And when the bubbles burst, what had once been believed and was therefore true was no longer believed and therefore no longer true. The”](https://sms4smile.com/quotes/john-kay/what-was-true-was-what-was-believed-and-what-was-believed-was-true/)

[John Kay](https://sms4smile.com/quotes/author/john-kay/)

[Image](https://sms4smile.com/quotes/i/598/john-kay-54748_quote_what-was-true-was-what-was-believed-and_1733138.jpg)

## More by John Kay

> [“What was true was what was believed, and what was believed was true. And when the bubbles burst, what had once been believed and…](https://sms4smile.com/quotes/john-kay/what-was-true-was-what-was-believed-and-what-was-believed-was-true/)

[John Kay](https://sms4smile.com/quotes/author/john-kay/)

> [“Three simple rules - pay less, diversify more and be contrarian - will serve almost everyone well.”](https://sms4smile.com/quotes/john-kay/three-simple-rules-pay-less-diversify-more-and-be-contrarian-will/)

[John Kay](https://sms4smile.com/quotes/author/john-kay/)

> [“There is probably no worse investment strategy than following the conventional wisdom with a time-lag, and that is precisely what many small investors do…](https://sms4smile.com/quotes/john-kay/there-is-probably-no-worse-investment-strategy-than-following-the/)

[John Kay](https://sms4smile.com/quotes/author/john-kay/)

> [“Value investing was once the purchase of tangible assets at levels below their market value. Value investing today is buying sustainable competitive advantages at…](https://sms4smile.com/quotes/john-kay/value-investing-was-once-the-purchase-of-tangible-assets-at-levels/)

[John Kay](https://sms4smile.com/quotes/author/john-kay/)

> [“An asset is worth what someone is willing to pay for it; and the value of an asset is the cash it will generate…](https://sms4smile.com/quotes/john-kay/an-asset-is-worth-what-someone-is-willing-to-pay-for-it-and-the-value/)

[John Kay](https://sms4smile.com/quotes/author/john-kay/)

> [“To win the lottery once may be evidence of luck or skill; to win it repeatedly is evidence of skill.”](https://sms4smile.com/quotes/john-kay/to-win-the-lottery-once-may-be-evidence-of-luck-or-skill-to-win-it/)

[John Kay](https://sms4smile.com/quotes/author/john-kay/)

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