Mullaney Keating & Wright

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JOHN MAYNARD KEYNES – INVESTMENT SAVANT

John Maynard Keynes was arguably the greatest, and certainly the most influential, economist of the 20th century.  Less well known is his record as investment manager for King’s College, Cambridge University. Two finance professors at one or the other Cambridge have written a retrospective on Keynes’ record as an investor.  KEYNES – THE INVESTOR  is a pretty good read.  They point out that Keynes was very modern in his investment philosophy — tilt to value and small although much more concentrated than recommended today.  He seems to have been that rare active investment manager — one who beat his benchmark over a long stretch, 1921 to 1946.  He wrote a few books during that period also.

TFM