“Keynes’ initial foray into investing led to a smash up. He lost everything he had unwisely borrowed and had to be bailed out by his parents. He did not do well in the 1920′s. He was taken unawares by the the 1929 Crash and also by the 1937 rout. In both instances, he came perilously close to being wiped out again because of very concentrated holdings and continuing use of leverage. In short, Keynes was a speculator, at the same time that he criticized speculators and the ‘casino’ atmosphere of the market. The article does disclose Keynes’s very large gold mining stock position in the 1930′s but fails to note the irony of this holding or his private praise of gold as a portfolio diversifier.”
http://bastiat.mises.org/2013/08/was-keynes-a-brilliant-investor/
Tip Freedomwat.ch Staff with Bitcoin