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Keynes the incompetent investor

darkkermit
Posts: 11,204
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9/28/2012 1:54:43 AM
Posted: 4 years ago
A lot of Austrian economists like to use the narrative that John Keynes lost all his money in his hedge fund as proof that he was an incompetent economist.

Turns out that's a bunch of garbage. John Keynes made annual returns on his hedge funds that were much higher than the returns from the UK stock index (Keynes was a british economist).

http://www.maynardkeynes.org...
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Wallstreetatheist
Posts: 7,132
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9/28/2012 9:49:00 PM
Posted: 4 years ago
Anyone who makes the connection between good investor and good economist without justification is engaging in a fallacy. Reading an annual report and understanding unemployment take two different skill sets.
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darkkermit
Posts: 11,204
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9/28/2012 11:19:03 PM
Posted: 4 years ago
At 9/28/2012 9:49:00 PM, Wallstreetatheist wrote:
Anyone who makes the connection between good investor and good economist without justification is engaging in a fallacy. Reading an annual report and understanding unemployment take two different skill sets.

I realize the understanding investing =/= good at economics. Although someone who is good at investing should have a pretty good background in economics.

However, asutrians have used the punchline before that the keynesians were bad investors, which is clearly false.
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FREEDO
Posts: 21,057
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9/29/2012 1:00:43 AM
Posted: 4 years ago
I guess it's cool when someone defends someone else from another viewpoint.

But I still find my self not giving a shit.

This isn't economics.

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Jake-migkillertwo
Posts: 67
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9/30/2012 12:31:09 PM
Posted: 4 years ago
At 9/28/2012 1:54:43 AM, darkkermit wrote:
A lot of Austrian economists like to use the narrative that John Keynes lost all his money in his hedge fund as proof that he was an incompetent economist.

http://www.themoneyillusion.com...