Successful investing is anticipating the anticipations of others.
About this quote
- What does it mean?
- This defines successful investing as predicting how others will react to market conditions rather than just the conditions themselves.
- In plain terms
- To invest well, guess what others will think.
- What can you take from it?
- Markets depend on collective psychology as much as fundamentals.
Where it applies
Putting it to work
Questions to consider
- Who is the market reacting to?
- How do you predict others?
Another view
It suggests manipulation over intrinsic value assessment.
More from John Maynard Keynes
You can't push on a string.
Permalink to quote #28 The market can stay irrational longer than you can stay solvent.
Permalink to quote #30 The importance of money flows from it being a link between the present and the future.
Permalink to quote #27
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