There’s an old joke that the difference between an economics major and a finance major is that the finance major still thinks they can beat the market.
Keynes was well-known in his time as a successful investor (do not make the casual mistake being dismissive of Keynes, whether you like his conclusions or not, he’s one of those people that forgot more than the rest of us will ever know).
Anyway, there’s some (cute) recent research that even Keynes didn’t beat the market much. If you’re interested, here’s a short and non-technical discussion from the January 12 issue of The New York Times entitled “Keynes: Great Economist, Mediocre Currency Trader”, a little longer but technically accessible piece at Vox entitled “The returns to currency speculation: Evidence from Keynes the trader”.
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