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Racer Jacob (woolstee)
Race Number 28
Date Sun, 30 Apr 2023 01:00:46 +0000
Speed 66 WPM Try to beat?
Accuracy 96.5%
Rank 3rd place (out of 3)
Opponents 2001or21 (1st place)

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The castle-in-the-air theory of investing concentrates on psychic values. John Maynard Keynes, a famous economist and successful investor, enunciated the theory most lucidly in 1936. It was his opinion that professional investors prefer to devote their energies not to estimating intrinsic values, but rather to analyzing how the crowd of investors is likely to behave in the future and how during periods of optimism they tend to build their hopes into castles in the air. The successful investor tries to beat the gun by estimating what investment situations are most susceptible to public castle-building and then buying before the crowd.
A Random Walk Down Wall Street (book) by Burton G. Malkiel (see stats)

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