Why You Should Stop Listening to Your Economist
Why don't the people who study money for a living actually have any? 🤔 Warren Buffett points out a hilarious irony in the financial world: despite having 160 IQs and studying the market for a lifetime, most economists fail to build wealth in securities. He uses the legendary John Maynard Keynes as a prime example. Keynes started out trying to "predict the credit cycle" and went broke twice. It wasn't until he abandoned complex economic forecasting and switched to a Ben Graham style of buying good businesses at cheap prices that he finally became wealthy. Buffett’s advice? Stop listening to the forecasters and start looking at the businesses. #warrenbuffett #economics #investing #wealth #stockmarket #keynes #bengraham #moneytips #finance #successmindset
About John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes ( KAYNZ; 5 June 1883 – 21 April 1946), was an English economist whose writings are the basis for the school of thought known as Keynesian economics, as well as its various offshoots. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles. His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics. He is known as the "father of macroeconomics" and is one of the most infl...
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