Average Quote by John Maynard Keynes
“Professional investment may be likened to those newspaper competitions in which the competitors have to pick out the six prettiest faces from a hundred photographs, the prize being awarded to the competitor whose choice most nearly corresponds to the average preferences of the competitors as a whole.”
About This Quote
Source Lecture: 1936 economic theory presentation
Investment decisions often follow popular opinion, leading to average outcomes.
In simple terms: Investors follow the crowd, yielding average results.
Key Takeaway
Seek independent analysis.
Themes
economics
crowd behavior
investment
Mood
analytical
cautious
Type
financial
theoretical
When to use this quote
- stock selection
- portfolio construction
- risk assessment
Key Concepts
Market psychology
efficiency theory
behavioral finance
Questions to Reflect On
- How can you identify genuine opportunities?
- What role does diversity of thought play?
A Different Perspective
Contrarian strategies carry higher risk.
