Author: John Maynard Keynes
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... a speculator is one who runs risks of which he is aware and an investor is one who runs risks of which he is unaware.
It's not bringing in the new ideas that are so hard; it's getting rid of the old ones.
It is the duty of the long-term investor to endure great losses with equanimity.
When the final result is expected to be a compromise, it is often prudent to start from an extreme position.
Conservatism leads nowhere; it satisfies no ideal.
When my information changes, I alter my conclusions. What do you do, sir?
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