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Investing with Keynes

How the World's Greatest Economist Overturned Conventional Wisdom and Made a Fortune on the Stock Market

Published by Pegasus Books
Distributed by Simon & Schuster

A guide to John Maynard Keynes—one of the greatest economic minds of the twentieth century—for today's investor.

John Maynard Keynes was a many-sided figure – world-changing economist, architect of the post-War international monetary system, bestselling author, a Baron in the House of Lords, and key member of the Bloomsbury group. 

He also had the talent and ability to make vast sums of money in the stock market. At the time of his death, Keynes' net worth—almost entirely built through successful stock investments—amounted to the present-day equivalent of more than $30 million.  Additionally, the college endowment fund he managed had massively outperformed the broader market over a two-decade period. Keynes was a member of that rare breed—an economist who flourished not only in the rarefied heights of ivory tower academia, but also amidst the hustle and votility of the financial markets.

How does a study of Keynes—the shrewd stock picker and star fund manager—benefit the modern investor? In this volatile era, Keynes' observations on stock market behaviour, in fact, are more relevant than ever.

Accessible and informative, this book identifies what modern masters of the market have taken from Keynes and used in their own investing styles—and what you too can learn from one of the most influential economic thinkers of the twentieth century.

Justyn Walsh is CEO of BridgeLane Agriculture Partners, an asset management firm focused on the conversion of large-scale agricultural holdings to organically accredited and regeneratively farmed operations. Prior to this, he worked in Europe, Asia, the Middle East and Australia as an investment banker and corporate lawyer.

"John Maynard Keynes is best remembered as an economist who made the case for governments to spend their way out of recessions. But as an investor, he was a kind of proto-Warren Buffett, a diligent savant who could crunch the numbers, discern the qualitative aspects of a toothsome investment and remain unflustered by the churn of the markets. Full of evocative anecdotes."

– Philip Delves Broughton, The Wall Street Journal

"A fascinating account of Keynes’s career as an investor. It shows very well the link between Keynes’s experience as an investor, speculating on the markets, and his theory. As an investor Keynes became more and more aware of the market’s uncertainty and volatility."

– Robert Skidelsky, author of KEYNES: Return of the Master

"Fascinating – what the managers of endowment funds can learn from Keynes doing the same job.”

 

– Marc Andreessen