 | James W. Brock - Antitrust law - 340 pages
...short-term value of securities and the underlying long-term value of investment. Speculators, he wrote, "are concerned, not with what an investment is really...'for keeps,' but with what the market will value it, under the influence of mass psychology, three months or a year hence."6 Their private objective is... | |
 | John Cunningham Wood - Biography & Autobiography - 1994 - 558 pages
...foreseeing changes in the conventional basis of valuation a short time ahead of the general public. They are concerned, not with what an investment is really...influence of mass psychology, three months or a year hence. Moreover, this behavior is not the outcome of a wrong-headed propensity. It is an inevitable... | |
 | Theodor Baums, Richard M. Buxbaum, Klaus J. Hopt - Business & Economics - 1994 - 732 pages
...foreseeing changes in the conventional basis of valuation a short time ahead of the general public. They are concerned, not with what an investment is really...influence of mass psychology, three months or a year hence. " The General Theory of Employment Interest and Money, Ch. 12, at 154-155 (New York 1935). 5... | |
 | George P. Brockway - Business & Economics - 1995 - 340 pages
...even higher. The same point may be reached from another direction. Keynes deplored the fact that most professional investors and speculators "are concerned,...influence of mass psychology, three months or a year hence."12 In the years that have passed since Keynes published this judgment, three months or a year... | |
 | Robert L. Heilbroner - Business & Economics - 1996 - 376 pages
...foreseeing changes in the conventional basis of valuation a short time ahead of the general public. They are concerned, not with what an investment is really...influence of mass psychology, three months or a year hence. Moreover, this behaviour is not the outcome of a wrong-headed propensity. It is an inevitable... | |
 | David L. Sills, Robert King Merton - Social Science - 2000 - 466 pages
...foreseeing changes in the conventional basis of valuation a short time ahead of the general public. They are concerned, not with what an investment is really...influence of mass psychology, three months or a year hence. . . The social object of skilled investment should be to defeat the dark forces of time and... | |
 | George P. Brockway - Business & Economics - 2001 - 494 pages
...even higher. The same point may be reached from another direction. Keynes deplored the fact that most professional investors and speculators "are concerned,...influence of mass psychology, three months or a year hence."10 In the years that have passed since Keynes published this judgment, three months or a year... | |
 | Geoffrey Poitras - Business & Economics - 2002 - 628 pages
...forecasting changes in the conventional basis of valuation a short time ahead of the general public. They are concerned, not with what an investment is really...influence of mass psychology, three months or a year hence. Moreover, this behaviour is not the outcome of a wrong-headed propensity. It is an inevitable... | |
 | Brian Kettell - Business & Economics - 2002 - 240 pages
...valuation a short time ahead of the public. They are concerned, not with what an investment is realty worth to a man who buys it 'for keeps', but with what...influence of mass psychology, three months or a year hence. The game of forecasting future investor sentiment is difficult and deters many from investing... | |
 | Robert Pollin - Financial crises - 2003 - 268 pages
...foreseeing changes in the conventional basis of valuation a short time ahead of the general public. They are concerned, not with what an investment is really...influence of mass psychology, three months or a year hence. Moreover, this behavior is not the outcome of a wrong-headed propensity. It is the inevitable... | |
| |
For most of these persons are, in fact, largely concerned, not with making superior long-term forecasts of the probable yield of an investment over its whole life, but with foreseeing changes in the conventional basis of valuation a short time ahead of... 
