The Mind of Wall Street: A Legendary Financier on the Perils of Greed and the Mysteries of the Market

The learned psychiatrist had picked, out of all the thousands of stocks, the one that permitted him to lose every penny. The happy ending is that we may all learn something, because he is still writing his book. It will be out next year, and I can hardly wait, since he saved his insight for publication.

John Maynard Keynes. Here’s what he wrote 81 years ago: It is dangerous . . . to apply to the future inductive arguments based on past experience, unless one can distinguish the broad reasons why past experience was what it was. But if we can distinguish the reasons the past was what it was, then we can establish reasonable expectations about the f